We study the effect of transfer of phase noise in different fourwave mixing schemes using a coherent phase noise measurement technique.The nature of phase noise transfer from the pump to the generatedwavelengths is shown to be independent of the type of phase noise (1/ for white noise frequency components). We then propose a novel schemeusing dual correlated pumps to prevent the increase in phase noise in theconjugate wavelengths. The proposed scheme is experimentally verifiedby the all-optical wavelength conversion of a DQPSK signal at 10.7 GBaud. © 2013 Optical Society of America.