FXPA Elects New Leadership, Sets Strategic Agenda for 2025
The newly elected and incumbent officers include:
- Chair: Joe Hoffman, CEO of Mesirow Currency Management, Mesirow Financial
- Vice Chair: Dale Haver, Senior Managing Director, Global Head of FX Sales, State Street Global Markets
- Treasurer: Jeff Roberts, Director, EBS Market Product, CME Group
- Co-Secretaries: Cathrine Poulton, Managing Director, Global Buyside Head of GlobalLink FX Product Sales, and Terri Knapp, Managing Director, GlobalLink FX, Global Head of Sell Side Sales
These officers, along with a newly elected and sitting slate of Board members, will guide FXPA’s efforts in 2025 as the association expands its engagement with US and global policymakers. The transition in US executive and Congressional leadership presents new opportunities for FXPA to advocate for market participants and provide insights and education on market dynamics.
FXPA’s 2025 Board is comprised of:
- Paul Hopkinson, Senior Product Manager, FX Electronic Trading, Bloomberg
- Scot Halvorsen, Assistant General Counsel, Cboe Global Markets
- Jeff Roberts, Director, EBS Market Product, CME Group
- Cathrine Poulton, Managing Director, Global Buyside Head of GlobalLink FX Product Sales, GlobalLink
- Richard Turner, Senior Trader, Insight Investment
- Joseph Hoffman, CEO, Mesirow Currency Management, Mesirow Financial
- Taylor Haberstock, VP, Global Trader, Morgan Stanley Investment Management
- John Marchese, Head of FX Sales & Partnerships, Portware
- Dale Haver, Senior Managing Director, State Street Global Markets
In 2024, FXPA strengthened its role as a thought leader, providing members with critical guidance on regulatory developments and industry best practices. Notable achievements included a white paper on FX derivatives trading platforms, ongoing guidance around T+1 settlement implementation for buy-side firms, deeper collaboration with global regulatory bodies, and continued advocacy for the FX Global Code.
Building on this momentum, FXPA’s 2025 agenda focuses on expanding its influence through enhanced outreach to policymakers and regulatory bodies, targeted working groups, and increased resources for its diverse membership – including buy-side and sell-side firms, exchanges, trading platforms, and technology providers.
The FXPA remains dedicated to representing the collective interests of professional FX market participants, advancing a sound, liquid, transparent, and competitive global currency market through education, research, and advocacy. Since its founding in 2014, the association has established itself as a leading voice in the industry, providing valuable insights to policymakers, market participants, and the media.
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. Since 2014, the FXPA has established itself as a respected industry thought leader and resource for the industry, media, and global policymakers.
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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
RBC Capital Markets Joins FXPA as Supporting Member
The Foreign Exchange Professionals Association (FXPA) is pleased to welcome RBC Capital Markets as a Supporting Member. A leading global investment bank and part of Royal Bank of Canada, RBC Capital Markets is recognized for its commitment to innovation, risk management, and delivering value to clients in the FX market and beyond.
“RBC Capital Markets’ deep expertise and global reach make it a significant addition to FXPA,” says FXPA Chair, Joseph Hoffman, CEO of Mesirow Currency Management at Mesirow Financial. “RBC’s involvement further enriches the collective knowledge and expertise within our organization. Their perspective will be invaluable as we address critical industry topics and engage with policymakers.”
Since its founding in 2014, FXPA has represented the interests of the institutional FX market, advancing its mission through education, research, and advocacy. The addition of RBC Capital Markets highlights FXPA’s commitment to bringing together a diverse range of industry participants to address evolving market challenges and opportunities.
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About FXPA
The Foreign Exchange Professionals Association (FXPA) is a Washington-based organization dedicated to advancing the interests of the institutional FX market. Through education, research, and advocacy, FXPA engages with policymakers and industry stakeholders to promote a sound, liquid, transparent, and competitive global currency market. Learn more at www.fxpa.org.
Media
Julie Ros
Strategic Advisor, FXPA
jros@fxpa.org
FXPA Cautions Over Prescriptive Nature of Proposed Amendments to FX Global Code
WASHINGTON, DC, October 28, 2024 – The Foreign Exchange Professionals Association (FXPA) cautions that proposed amendments to the FX Global Code and Disclosure Cover Sheets may be overly prescriptive.
In the feedback provided to the Global Foreign Exchange Committee (GFXC), FXPA reaffirms its commitment to the Code, which aims to foster a robust, fair, liquid, open, and transparent foreign exchange market, and commends the GFXC’s efforts to enhance transparency and stability within the FX market through these updates.
“We believe that aligning with the Code’s principles-based approach is crucial for benefiting all market participants,” FXPA states in comments submitted to GFXC today.
However, the FXPA cautions that an overly rigid framework could hinder widespread adoption of the Code, as it might not provide the necessary flexibility to accommodate varying jurisdictional regulatory requirements and promote responsible innovation and efficiency.
To ensure the amendments are effective, the FXPA suggests that they be accompanied by enhanced explanations, guidance and, where appropriate, cost-benefit analyses. FXPA believes this is essential for evaluating the potential market impacts of the proposed changes.
FXPA also notes that the public consultation period was notably short, making it challenging for market participants – who often operate across multiple jurisdictions – to adequately assess the proposed amendments, and urges GFXC to allow sufficient time and engagement for validating the feasibility and desirability of these changes with the broader market.
Furthermore, the FXPA encourages the GFXC to ensure that all market participants, including trading platforms and infrastructure providers, are represented throughout the amendment process. “It is vital to engage end-users and buy-side representatives to foster a constructive dialogue that encourages their commitment to the Code and to ensure that any adopted amendments deliver meaningful benefits,” FXPA states.
The FXPA’s membership, including its buy-side and platforms working groups, stands ready to collaborate with the GFXC to ensure the Code remains fit for purpose and enhances the integrity of the FX market.
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About FXPA: The Foreign Exchange Professionals Association (FXPA) is dedicated to promoting a fair and efficient foreign exchange market through collaboration among market participants, regulators, and industry stakeholders.
Media contact:
Julie Ros, Strategic Advisor jros@fxpa.org