Time: 2pm – 3.30pm | Location: Bank of England, Threadneedle St, London, EC2R 8AH The Chair (Sharon Blackman) opened the meeting, welcoming those online and in person. The discussion focused on a comprehensive update on the 2026 FX Definitions, covering the transition from the 1998 definitions, key substantive changes, SWIFT implementation, and supporting materials for firms. The four-year program launched in 2024 is now in implementation phase, with a SWIFT change request submitted ahead of their June 4th deadline. SWIFT rulebook changes are expected over the summer and transition to the new FX Definitions in November 2027 (after which the 1998 definitions will cease to apply). Discussions between ISDA and local banking associations are ongoing.
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