ISO 4217 added to the standard. A number of currencies are not included in ISO 4217, because these currencies are: (a) minor currencies pegged 1:1 to a larger currency, even if independently regulated (b) a legal tender only issued as commemorative banknotes or coinage, or (c) a currency of an unrecognized or partially recognized state. These currencies include: See for a list of all currently pegged currencies. Despite having no official recognition in ISO 4217, the following non-ISO codes are sometimes used locally or commercially. In addition, GBX is sometimes used (for example on the London Stock Exchange) to denote Penny sterling,
International Organization for Standardization Central Secretariat based in Geneva. A Council with a rotating membership of 20 member bodies provides guidance and governance, including setting the Central Secretariat's annual budget. The Technical Management Board is responsible for over 250 technical committees, who develop the ISO standards. ISO has formed two joint committees with the International Electrotechnical Commission (IEC) to develop standards and terminology in the areas of electrical and electronic related technologies. ISO/IEC Joint Technical Committee 1 (JTC 1) was created in 1987 to "[d]evelop, maintain, promote and facilitate IT standards", where IT refers to information technology. ISO/IEC Joint Technical Committee 2 (JTC 2)