“The Foreign Exchange Professionals Association (FXPA), which represents a full array of participants in the foreign exchange markets, welcomes the Financial Stability Board’s final report on Foreign Exchange Benchmarks. The report outlines numerous areas that all participants in this industry should focus on and acknowledges there may be challenges and costs associated with the changes. However, bringing transparency and increasing confidence in the FX market is critical and many of these recommendations will be embraced by market participants.”

The full FSB report can be found at: http://www.financialstabilityboard.org/publications/r_140930.pdf