About the programme
An independent programme for responsible market conduct.
BlackCores Responsible Markets exists to make governance, documentation and responsible-market conduct visible through a defined, evidence-led programme structure.
A. Why it exists
Markets are full of claims. Evidence is scarce.
Firms operating in the FX/CFD ecosystem — brokers, prop platforms, PSPs, IBs and others — regularly make broad claims about their governance, conduct frameworks and internal controls. Those claims are rarely accompanied by documentary evidence that counterparties, partners and institutional stakeholders can independently evaluate.
Banks, PSPs, EMIs, insurers, counterparties and professional partners increasingly need records they can understand and point to. BlackCores Responsible Markets addresses this by recording what firms can actually demonstrate against a defined, published framework — and making that record publicly available.
- FX/CFD firms often assert governance and conduct standards without supporting documentation
- Institutional counterparties and partners require records they can evaluate independently
- BlackCores RM records documentary status and defined-scope participation — not claims
B. BlackCores experience base
The governance disciplines we work with
BlackCores brings professional experience across the governance and documentary disciplines that institution-facing firms in the FX/CFD sector are expected to demonstrate. The programme is built on this foundation — not on algorithmic ranking or self-reported surveys.
Governance architecture
Board-level framework documentation, committee structures and governance hierarchy records.
AML/CFT review
Financial-crime procedures, suspicious-activity frameworks and compliance policy documentation.
Due diligence support
Counterparty and partner due diligence documentation, onboarding controls and risk records.
Financial governance
Financial controls, reporting structures and capital adequacy documentation relevant to the scope.
Documentation discipline
Policy, procedure and governance document version control, completeness and maintenance records.
Institution-facing readiness
Readiness documentation for bank, PSP, EMI and counterparty institutional review processes.
Market-facing experience
Operational and conduct documentation relevant to FX/CFD market-facing activities.
Professional review support
Supporting regulatory, legal and corporate governance review processes with structured documentation.
C. What BlackCores RM records
A factual public record
Each profile on the Responsible Markets Register contains a specific set of recorded items. Nothing is implied beyond what is explicitly stated in the record.1
Programme participation status
Whether a firm is an active, suspended, archived or declined participant.
Documentary status
The completeness and currency of submitted documentation within a declared scope.
Defined-scope review outcomes
The result of mapping submitted evidence against the relevant RM10 standards.
Profile ID
A unique identifier assigned to each participant profile on the Register.
Certificate ID
Where issued, a certificate identifier linked to a defined-scope status record.
Annual update status
Whether the participant has submitted an annual update and when.
Publication decision status
The editorial decision applied: accepted, accepted with limitations, deferred, declined, suspended or archived.
D. What it does not claim
Clear scope boundaries3
BlackCores Responsible Markets records programme participation and documentary status only. It does not make any of the following claims, and no programme participant, mark user or third party may represent it as doing so.
- Not a broker ranking or league table
- Not an investment recommendation or financial promotion
- Not a regulatory approval, licence or endorsement
- Not a consumer trading guide or product recommendation
- Not a un / un global compact certification or verification
- Not a guarantee of financial soundness or future conduct
E. Who it serves
The FX/CFD ecosystem
The programme is open to all institution-facing participants in the FX/CFD ecosystem. The review scope is tailored to each applicant category through the RM10 Standards and the FX/CFD Applicability Framework.
Brokers
Retail FX/CFD brokers, spread-betting providers and offshore broker groups
Funded platforms
Funded trader and prop platform operators
Money managers
PAMM/MAM operators and money management services
IBs & affiliates
Introducing brokers, affiliates and performance marketers
Marketing agencies
Financial marketing agencies serving the FX/CFD sector
PSPs & EMIs
Payment service providers and electronic money institutions serving brokers
Technology
Platform technology providers, white-label operators and infrastructure vendors
Liquidity
Liquidity providers and prime-of-prime brokers
Compliance services
Compliance, legal and corporate service firms serving the ecosystem
Media & events
Industry media, conference organisers and professional associations
F. How it is administered
Independence and discipline
BlackCores-administered
The programme is independently operated by BlackCores. No external agency, regulator or international body administers or endorses it.
Evidence-led
All recorded status reflects documents actually submitted and mapped — not claims, assertions or self-certification.
Defined scope
Every review has a declared scope. Status is recorded within that scope only. It does not cover areas outside the declared scope.
Publication decisions
Profiles are published only following an editorial decision. Not all applicants are listed.
Annual update cycle
Published profiles require an annual update submission to remain current. Outdated profiles are flagged or archived.
Corrections process
Third parties may raise factual, documentary concerns about published records through the formal corrections process.
Use-of-mark rules
Firms may only use the BlackCores RM mark under the published use-of-mark rules. Misuse is tracked and addressed.
G. Connection to BlackCores entities
One programme, clearly placed
BlackCores Responsible Markets is a BlackCores programme. It is independently administered by BlackCores.
BlackCores and Partners LLP participates in the United Nations Global Compact and is the operating entity supporting the programme's public-interest and professional governance direction. The UNGC participation reflects a voluntary organisational commitment to the ten principles covering human rights, labour, environment and anti-corruption.
BlackCores Responsible Markets is not a United Nations or UN Global Compact programme, certification, endorsement, approval or verification service.3
Programme contact
For programme enquiries, application discussions, corrections or general information about the BlackCores Responsible Markets programme:
rm@blackcores.orgTo apply, begin through the application form. Do not send documentary evidence by email before completing the intake process.
Apply to participateScope Notes
Markers in the text above resolve to the full boundary wording below. These notes define what this page records — and what it does not claim.
- 1.
Register scope: The BlackCores Responsible Markets Register records programme participation, documentary status and defined-scope review outcomes. It is not a broker ranking, investment recommendation, financial promotion, consumer trading guide, product endorsement or regulatory approval.
- 3.
UNGC boundary: BlackCores and Partners LLP participates in the United Nations Global Compact. BlackCores Responsible Markets is independently administered by BlackCores and is not a United Nations or UN Global Compact programme, certification, endorsement, approval or verification service. Participant firms do not receive UNGC status through BlackCores Responsible Markets.
- 8.
General information: Website content is provided for general business and institutional information only. It should not be relied on as legal, financial, tax, investment, insurance, regulatory or trading advice. Users should obtain independent professional advice where appropriate.