The [fm-synth]'s effect chain provides an interface to configure the effects that are applied to the output of the FM synth or to individual [operator]s. Effects are applied from top to bottom with the output from each getting passed into the next.
Effects in the effect chain are applied separately for each [voice] in the [fm-synth]. If any of their parameters are controlled by [envelope-generator]s, then each of those envelopes will be triggered independently for each voice.