Welcome to
Our aim is to heighten the professional and ethical level amongst members. To elevate the effectiveness of the currency markets. To work for a good co-operation amongst currency traders inside Denmark as well as towards foreign financial institutions.
Courses & Certificates
Courses are offered exclusively to members of ACI Danmark.
Education
ACI Forex Danmark and ACI Australia
Proudly host
The ACI Australia Dealing Simulation
27 April to 30 April 2026
Venue: Rungstedgaard Hotel, Rungsted Strandvej 107, 2960 Rungsted Kyst, Denmark
Take on the role of FX Sales, Cash and Options Trading. Build an understanding of liquidity and execution risk and how to understand and facilitate, customer business on the only hands-on Simulated Dealing Course of its kind in the world!
The ACI Australia Dealing Simulation is the fastest and most effective way to acquire that invaluable practical knowledge. Participants experience real-life simulated market scenarios over five high- impact days.
Run in accordance with the internationally- recognised FX Global Code of Conduct that promotes and encourages markets best practice, integrity and professionalism.
The sign up price covers the course, tuition and hotel at Rungstedgaard (27th- 30th April 2026) If an extra night is needed, please let us know as soon as possible and we can book that for you. The extra cost will be held by yourself.
The 2026 course is now fully electronic, we have removed the broking desk and have added an extra liquidity provider on the electronic trading system to boost liquidity there, an additional CLOB is also being added to help teach VWAP, as well as TWAP, execution techniques. We have also dramatically increased the amount of customer business the teams see, via RFQ and the chat mechanism in the form of orders.
We continue to use an RFQ function as we believe this provides detailed insight and education into the processes behind the technology, so that delegates understand how the price is formed, the different ways to manage risk, and the challenges of quoting prices to clients in even the toughest circumstances. This has seen more delegates attend the course from middle office functions, as well as front, we have also seen an increasing number of attendees from the compliance and surveillance functions, as well as from technology teams.
We accept that in the modern world there is greater automation but feel there is still real value in providing that background knowledge as to what happens behind the machines
Likewise, while we understand that algos squeeze the time horizon for trading news events, it is important delegates understand why and how the market moves therefore, as is central to the Dealing Simulation Course, we enable them to learn through experience. While we have reduced the emphasis on P&L in recent years, it is still a useful tool for quantifying the difference between a proactive and passive response to events, flow, and other information.
Ethical debates have been added to the agenda to ensure that delegates understand key issues still facing the FX industry the grey areas that are inevitable in a principles-based document like the FX Global Code. These debates, which use real-life cases to provide context, are on subjects such as the repapering of trades; best execution; last look; and stop-losses. There are also ongoing discussions around incidents that arise during the live dealing sessions on the course.
The Chat Room is used for customer business, options execution and for market colour.
This has proven very useful on the courses to help put FX Global Code principles into action and to provide discussion points for the post-session brief.
Teams may also be required to use technical analysis to help with trading, options decisions and communication with clients to pass trading ideas and market colour.
The teams are now made up of two or three persons, with three principal roles
1) Liquidity provider and execution trader
2) Sales function and options trader.
3) Technical analysis.
Above are some of the changes we have made to the DSC which we believe helps provide the necessary grounding in risk management and liquidity in a modern market structure framework.
Any questions please do not hesitate to reach out.
4 days
Education
From January 2017, ACI has taken over the management of test centres to improve the service we provide to exam candidates and members. Please use the link below to register and/or to indicate where you wish to sit an exam.
ACI oversees an extensive and ever-growing Test Centre network with over 130 centres available to exam participants in more than 90 countries. Through our Test Centre partnerships further locations are continually being added. If you would like to register for an exam in a country which is not listed, please do specify the country in the corresponding field and we will do our best to organise an exam seat in a location nearest to you.
5 days
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Become an ACI Danmark Member today. If you want to become a new ACI member, you can sign up by following the link below, and signing the form.
Announcements & Current News
News
February 3, 2026
GFXC meets to take stock of progress on the adoption of the FX Global Code, analyse recent developments in FX markets, evaluate its priorities going forward, endorse new Co-Vice Chair and encourage preparation for the T+1 settlement transition
The December meeting minutes of the Global Foreign Exchange Committee (GFXC) are out.
Explore the takeaways from recent discussions and agreed actions: here
News
6 November 2025
The Final Report on Pre-Hedging considers IOSCO members’ existing regulatory approaches to the practice of pre-hedging and identifies potential issues and gaps in current industry practices and codes. This final report sets out IOSCO’s definition of pre-hedging with the intention of promoting a consistent interpretation of the practice and presents a set of recommendations as guidance for regulators. The final report seeks to facilitate greater consistency and clarity around pre-hedging, and to promote a level playing field for all participants across jurisdictions, asset classes and execution types.
You may find the report at IOSCO’s website here
News
5 November 2025
On October 9th the European System of Central Banks reaffirmed commitment to updated FX Global Code.
Initially published in 2017, the FX Global Code outlines global principles of good practice in the foreign exchange market, promoting integrity, effective functioning and high ethical standards. The Global Foreign Exchange Committee has updated the Code twice, in July 2021 and December 2024, to keep it relevant and aligned with the evolving foreign exchange market, and will continue to set the standard for good market practice.
The European System of Central Banks (ESCB) welcomes the latest update of the FX Global Code since well-functioning financial markets benefit all market participants and are important to central banks as they enable the smooth transmission of monetary policy to the real economy, ultimately benefiting the public at large.
News
30 April 2025
Kirstine Kundby-Nielsen (Danske Bank), Signe Krogh Nielsen (Nykredit) and Erik Buch (Nordea) participated in a panel discussion with Martina Doherty from MD Consulting at the latest Full FX event in Copenhagen.
The topics included their view of the world, what is important to them, advice to others and how they manage stress and wellbeing and what they think makes a good leader.
You may find a link for the event here.
News
24 January 2025
The Global Foreign Exchange Committee (GFXC or Committee) has completed its review of the FX Global Code (the Code). The December 2024 version of the Code, which will supersede the July 2021 version, updates its principles of good practice in the foreign exchange market in two key areas. Alongside the revised Code, the Committee will also publish enhanced Disclosure Cover Sheets (DCS) for Liquidity Providers and Platforms.
The GFXC has updated the Code following an extensive consultation process with local FX committees (LFXCs) worldwide and a broad range of Market Participants through a public Request for Feedback in October 2024. Updates have been made to five of the Code’s fifty-five principles to strengthen the Code’s guidance on FX Settlement Risk, as well as to increase transparency around certain types of FX transactions and the use of client-generated data on electronic trading platforms.
In addition, the DCS for Liquidity Providers and Platforms were also extended with the objective to enhance transparency and comparability across providers on the use of FX data. The GFXC encourages the uptake of the DCS, which are available on the GFXC website.
News
31st Ocotober 2024
Over the last couple of years several ACI FMA National Associations have increased their focus toward supporting the younger ACI members, often referred to as the “Next Generation.”
ACI Danmark focus on all members, especially the Next Generation, as they are the future of both the Financial Markets and for ACI Danmark.
The National Associations in Switzerland, Denmark and the UK are all running programs for the Next Generation. There is a cross-border co-operation and sharing of knowledge among these three ACI countries for mutual benefits.
Together with Switzerland and UK we wish to share the current status, work conducted so far, and the experience gained on a global scale.
Please see our findings in short briefing for the national associations ACI – Next Generation.
We share ACI’s values; the importance of networking, and the exchange of knowledge on a wide range of topics.
News
28th April 2024
ACI FMA has released a short video dedicated to exploring the intricacies of T+1 Settlements.
Ileana Pietraru, President of ACI France, interviews Stephane Malrait, ACI FMA Chairman, on this insightful presentation that explores the significance of transitioning to a T+1 Settlement cycle.
The video produced by ACI FMA in cooperation with LFMA “Spot & Forward”, not only highlights the benefits and challenges of this transition but also explores its impact across various regions worldwide and within different segments of the financial organizations. It explores crucial aspects such as efficiency, risk, and market liquidity, offering valuable insights into the evolving landscape of financial markets.
You can access the ACI FMA video by following this YouTube link: https://youtu.be/55QTZSmOAkw?si=twGdrR8AnlSGZ0CP
News
17th January 2024
The ACI FMA Foreign Exchange Committee (FXC) has put together a detailed Briefing Note addressing the essential aspects of the upcoming USD T+1 Securities Settlement. Commencing on May 28th, 2024, this significant shift in the US Securities Settlement system is anticipated to have far-reaching implications on the Foreign Exchange (FX) landscape.
Highlighting concerns raised by ACI FMA FX Committee members, the Briefing Note emphasizes the need for proactive preparation among FX Market Participants. The ACI Financial Markets Association urges its members to actively engage with the contents of the Briefing Note and encourages the distribution of this resource within professional networks to foster a broader comprehension of the changing FX domain.
You may find the note here
News
14th January 2024
This special edition is dedicated to celebrating the diverse perspectives within the ACI FMA Regions. Join us as we explore their reflections on the year that is coming to an end and their expectations for 2024.
We’re honored to feature contributions from the Regions’ leaders: Roy Daniels (Africa), K. Shanaka C. Perera (Asia), Branko Petrovic (Europe), Jørn “Luffe” Sodborg (Europe), and Khaldoon Al-Janini (Middle East). Their valuable insights and collaborative viewpoints promise an exciting journey.
The objective of the Newsletter is to bring news and updates from ACI FMA activity to all our global ACI members.
ACI FMA are longstanding proponents and influencers of ethical conduct and good market practices to all financial market professionals.
You may find the newsletter here : Insights Newsletter No. 10. – 22. December 2023
News
6th November 2023
The Dealing simulation course has been completed with great success.
More than 30 committed participants completed this year’s ACI Australia Dealing Simulation last week.
The ACI Australia Dealing Simulation is the fastest and most effective way to acquire that invaluable practical knowledge. Participants experience real-life simulated market scenarios over five high- impact days.
News
2023-05-12
This new edition is dedicated to the ACI FMA Spring Meetings and the 31stACI FMA Croatia General Assembly and Financial Markets Conference 2023, which will take place in Zagreb from 16th to 19th May. Adittional details and much more can be found in the column that Mario Kolinski, ACI Croatia President shared with us. Please also visit the Congress website for more details: https://acifma.hr/zg2023-en/
In this edition, you can also find the contribution of John K. Estrada, ACI FMA Chair of FX Committee, the detailed vision of Rui Correia, ACI FMA Executive Director and Chair of the Board of Education, on the importance of continuous training, certification, good practices and the numerous possibilities that the ELAC platform offers to financial market participants, as well as the joint welcome message from Stéphane Malrait, ACI FMA Chairman and Kim Winding Larsen, ACI FMA President.
You may find the newsletter here : ACI FMA Insights Newsletter 8 – 2023
News
The Global Foreign Exchange Committee (GFXC) met in Zurich on 27–28 June in-person, with the option of virtual participation. The majority of GFXC members met physically for the first time since the outbreak of the coronavirus pandemic. The GFXC meeting was led by its Chair, Andréa Maechler of the Swiss National Bank, and its Co-Vice Chairs, Richard de Roos of Standard Bank and Stefanie Holtze-Jen of Deutsche Bank.
The GFXC agreed on the work programme for the next two years, which will cover the interim period until the next three-year Code review. Discussion on the programme began at the previous GFXC meeting in December 2021, and Local Foreign Exchange Committee (LFXC) members expressed their interests and priorities in a survey in February 2022. The results of the survey and conclusions were shared with LFXCs in May 2022. Andréa Maechler indicated, “Our priorities going forward are clear. Almost a year since the publication of the revised Code a number of market participants have signed up to the Code and the GFXC expects those who have not yet renewed their Statement of Commitment to do so shortly. In order to foster even more widespread adoption of the Code, the GFXC must continue its efforts in ensuring that the cost of adherence reflects a market participant’s role in the FX market and that the tangible benefits of adherence are well understood.”
You may find more information here.
