The Foreign Exchange Professionals Association (FXPA) is a trade group launched by professionals in Forex industry headquartered in Washington. Founded in September, 2014, it functions to represent a number of FX participants from all over the industry in the largest financial market in the world, boasting of about $5.3 trillion a day market.
Amidst global regulatory scrutiny, some key industry giants colluded to form the FXPA with the aim of advancing a sound, liquid, transparent and competitive global currency market. Founding members include exchanges, clearing houses, trading platforms, MTFs and technology companies within which we have CalPERs ,Bank of New York Mellon, Traiana, Campbell & Company, Citadel LLC, CME Group, GFI Group, LCH, Clearnet, LMAX Exchange, and Virtu Financial.
The FXPA announced today the addition of five more institutional members including Bloomberg Tradebook Services, Cürex, FastMatch, Nasdaq and Singapore Exchange (SGX) to join the FXPA’s Founders’ Council and became members of the initial Board of Directors.
It is the responsibility of the FXPA to strictly look into issues like Global FX Market Regulation, Benchmark Rates, Risk Controls and Best Practices, Execution Quality, Post-Trade Reporting, and Clearing of Non-Deliverable Forwards, adhering to similar outlines in the Dodd-franklin act.
Joining FXPA’s Board of Directors, representatives from the new member firms are; Ray Tierney, President, Bloomberg Tradebook Services; Jamie Singleton, Chairman and CEO, Cürex; Dmitri Galinov, CEO, FastMatch; David Holcombe, Head of FX Product, Nasdaq; and Michael Syn, Executive Vice President, Derivatives, SGX.
