Insight Investment Joins FXPA as Advisory Member

The Foreign Exchange Professionals Association (FXPA) is pleased to announce the addition of Insight Investment, a global asset and risk manager headquartered in London, as the newest member to the industry association. FXPA represents the collective interests of the institutional FX market to advance a sound, liquid, transparent and competitive global currency market to policymakers and the marketplace through education, research and advocacy.

Insight’s membership is represented by Richard Turner, Senior Trader at Insight. Turner said: “I am looking forward to working with our industry peers at FXPA, addressing topics of particular interest to the buy side, as well as advancing best practices for all FX market participants.”

“We are excited to gain Richard’s input into a variety of topics that FXPA will be addressing in 2023,” adds Chair, Susan Dauber, Head of Legal & Regulatory at Euronext FX and Chairperson of Euronext Markets Singapore. “Insight Investment’s presence will further add an important dimension to the scope of our work.”

The FXPA is the only industry body that represents a diverse cross-section of the institutional FX marketplace. Since 2014, the FXPA has established itself as a respected industry thought leader and resource for global policymakers.

-ENDS-

The Foreign Exchange Professionals Association (“FXPA”) is a Washington-based organization that represents the collective interests of professional foreign exchange industry participants.  The group is designed to engage key regulators and policymakers through education, research, and advocacy, with the goal of advancing a sound, liquid, transparent and competitive global currency market.  See more at www.fxpa.org

Insight Investment is a leading global investment manager, founded in 2002 and headquartered in London. Insight primarily manages money for pension schemes by providing liability-driven investment strategies and investing in fixed income and currency and multi-asset.  More information about Insight Investment can be found at: www.insightinvestment.com

FXPA Elects New Officers, Directors at Annual Meeting

The Foreign Exchange Professionals Association (FXPA) elected a new slate of Officers and Board Members at its annual meeting on February 14, 2023.

Effective immediately, Susan Dauber, Head of Legal & Regulatory, Euronext FX, and Chairperson of Euronext Markets Singapore, is Chair of FXPA; Chip Lowry, Senior Managing Director at State Street, is Vice Chair; Lauren Rosborough Watt, Investment Manager at CalPERS, is Secretary; and Paul Houston, Global Head of FX at CME Group, continues as Treasurer. The four officers form FXPA’s Executive Committee, which sets the agenda for the upcoming year.

Dauber succeeds Acting Chair, Chris Leonard-Appleton, Head of FX Risk & Regulation, LSEG, who remains on the Board, and Lowry succeeds Tod Van Name, Global Head of FX Electronic Trading, Bloomberg, who was serving as Acting Vice Chair. Rosborough Watt succeeds Jordan Barnett, MD at BNY Mellon.

“It is an honor to be elected as Chair of the FXPA and to have this opportunity to continue Chris’ fine work and leadership,” says Dauber. “With recent volatility driven by global tensions, inflationary pressures and shifts in monetary policy, the FX market will undoubtedly remain top of mind. It would appear FX volumes are set to continue to grow in 2023 with an increasing interest in the APAC region and we look forward to continuing to expand the FXPA’s membership and outlook. I look forward to working with all members as we represent the collective voice of the FX market.”

In other news, Alex Blackmur, Director of FX, Corporate Finance and Strategic Investments at Microsoft, will lead a new Buy Side Working Group for FXPA. FXPA has recently increased its buy side Advisory Membership with the additions of Mesirow and Insight Investment.

FXPA also elected a slate of candidates to the Board, which is now comprised of: Martin Knudsen, Senior Product Manager, FX Electronic Trading, Bloomberg; Rosborough Watt of CalPERS; Mike Margolis, Assistant General Counsel, Cboe; Houston of CME; Dauber of Euronext US; Leonard-Appleton of LSEG; Blackmur of Microsoft; Christopher Matsko, Head of FX Trading Services, Portware; KC Lam, Head of FX and Rates, Singapore Exchange (SGX); and State Street’s Lowry.

The FXPA is a unique industry body that represents a diverse cross-section of the FX market to advance its mission to collectively represent the interests of professional FX industry participants to advance a sound, liquid, transparent and competitive global currency market to policymakers and the marketplace through education, research and advocacy. Since 2014, the FXPA has established itself as a respected industry thought-leader and resource for global policymakers.

-ENDS-

The Foreign Exchange Professionals Association (“FXPA”) is a Washington-based organization that represents the collective interests of professional foreign exchange market participants. The group engages with key regulators and policymakers through education, research, and advocacy, with the goal of advancing a sound, liquid, transparent and competitive global currency market.  See more at www.fxpa.org

FXPA Welcomes Mesirow as Newest Member

The Foreign Exchange Professionals Association (FXPA) is pleased to announce the addition of Mesirow as the newest member to the industry association. FXPA represents the collective interests of the institutional FX industry to advance a sound, liquid, transparent and competitive global currency market to policymakers and the marketplace through education, research and advocacy.

Mesirow Currency Management just celebrated a record year – surpassing $130 billion in assets under management as of December 31, 2022.[1]

Joe Hoffman CFA, CEO, Mesirow Currency Management, says: “We look forward to working with the broad spectrum of FX market participants that comprise the membership of FXPA. Our deep commitment to advancing best practices align well with FXPA’s goals of championing a robust FX market for all industry participants.”

“We are thrilled to have Mesirow join the membership of FXPA,” adds Acting Chair, Chris Leonard-Appleton, Head of FX Risk & Regulation, LSEG. “We are excited to welcome Mesirow’s voice to our association.”

The FXPA is the only industry body that represents a diverse cross-section of the institutional FX marketplace. Since 2014, the FXPA has established itself as a respected industry thought leader and resource for global policymakers.

The Foreign Exchange Professionals Association (“FXPA”) is a Washington-based organization that represents the collective interests of professional foreign exchange industry participants.  The group is designed to engage key regulators and policymakers through education, research, and advocacy, with the goal of advancing a sound, liquid, transparent and competitive global currency market.  See more at www.fxpa.org

[1] Data as of 12.31.2022 unless otherwise noted. Currency assets under management includes AUM associated with (i) active and passive currency risk management products $130.20 billion, (ii) non-fx overlay strategies such as equitization and beta overlays $671.03 million, and (iii) alpha strategies $32,482,451. In all such cases, AUM is calculated based on notional value of currency investments. Additionally, AUM for alpha strategies is adjusted because clients can select a volatility target (generally between 2% and 12% annualized), which is normalized to 2% in order to create a consistent depiction of alpha strategy AUM. This results in a “scaled” AUM, which is higher than the actual aggregate notional value of all alpha strategy portfolios if clients have selected a volatility target higher than 2%. As of 12.31.2022, the “unscaled” AUM for alpha strategies was $5,852,78