FXPA welcomes new board members and announces new Working Groups

The Foreign Exchange Professionals Association (FXPA) officially launched on September 25th, 2014 as a trade association dedicated to providing a voice for the diverse group of participants that make up the global foreign exchange industry.

June, 2018

FXPA welcomes new board members and announces new Working Groups
FXPA welcomes new board members and announces new Working Groups

The Foreign Exchange Professionals Association (FXPA) officially launched on September 25th, 2014 as a trade association dedicated to providing a voice for the diverse group of participants that make up the global foreign exchange industry. 

Based in Washington, DC, the FXPA’s aim is to engage key US and international regulators, policymakers, the general public and news media, through a combination of education, research and advocacy to advance a sound, liquid, transparent and competitive global currency market.

Diversity of membership is embedded into the FXPA’s organizational construct to ensure wide representation of the professional FX market. Founding members epitomise this diversity – including the buy side, exchanges, trading platforms, technology companies, banks and non-bank market participant

The FXPA is based in Washington DC
The FXPA is based in Washington DC

New board members

The association recently voted in a slate of new board members at its annual meeting on March 6th, and re-elected Chip Lowry, Senior Managing Director at State Street Global Markets, as Chairman, and Sean Tully, Senior Managing Director at CME Group, as Treasurer.

Members new to the board include Lisa Shemie, Chief Legal Officer, Cboe FX and Cboe SEF; Jill Sigelbaum, head of FXall, Thomson Reuters; and Christopher Matsko, Head of FX Trading Services, Portware. Members re-elected to the Board include: Jason Vitale, COO FX & Head of Client Execution, BNY Mellon Global Markets; Jonathon O’Donnell, Investment Manager, CalPERS; Tahreem Kampton, Senior Director, Microsoft; Tod Van Name, Global Head of FX Electronic Trading, Bloomberg; Stephen Komon, Senior Portfolio Manager, Colorado PERA; KC Lam, Head of FX and Rates, Singapore Exchange (SGX); and Chip Lowry, Senior Managing Director, State Street Global Markets.

The new appointments join existing board members Jessica Sohl, President, HC Technologies; David Goone, Chief Strategy Officer, Intercontinental Exchange (ICE); Edgar Ramon, Global Head of FX, INTL FCStone; and Joseph Molluso, CFO, Virtu Financial.

New Working Groups

During the annual meeting, FXPA’s new Chair of the Policy Committee, Cboe’s Shemie, outlined five working groups that FXPA is forming focused around: the FX Global Code; Cryptocurrencies; MiFID II and Cross-Border Regulation; SEF Trading; and Clearing and Margin.

“We will be focusing our collective energy on solving issues that are critical for our members, and on the smooth functioning of the FX market more broadly,” says Shemie. “The role of the Policy Committee is to create an effective forum for discussion, education and advocacy and to have a meaningful role in the continued development of global currency trading market structure. We are very excited to get to work.”

The FXPA has hosted a series of webinars looking at aspects of implementation of the Global Code and on its website they have made available a number of White Papers and Backgrounders on various aspects of the FX market, as well as comment letters submitted by the group - 
www.fxpa.org 

Activities & Initiatives

With a primary objective of educating regulators and policymakers through written and in person communications, the FXPA will consider issues including, but not limited to:

  • Global FX Market Regulation 
  • Execution Quality 
  • Benchmark Rates 
  • Post-Trade Reporting 
  • Risk Controls (and Best Practices) 
  • Clearing of Non-Deliverable Forwards