FXPA Secures New Members to Board of Directors

The Foreign Exchange Professionals Association (FXPA) held its annual board meeting on March 6, during which several new members were appointed, while various existing members were re-elected.

The association re-elected Senior Managing Director at State Street Global Markets, Chip Lowry, as its Chairman. Additionally, Sean Tully, Senior Managing Director at CME Group, maintained his position as Treasurer of the FXPA.

The FXPA is a Washington, DC-based organization that was developed in September 2014 with the intention of enhancing a liquid and transparent global currency market, by addressing important facets of the industry, particularly key issues associated with Regulation Regulation Like any other industry with a high net worth, the financial services industry is tightly regulated to help curb illicit behavior and manipulation. Each asset class has its own set of protocols put in place to combat their respective forms of abuse.In the foreign exchange space, regulation is assumed by authorities in multiple jurisdictions, though ultimately lacking a binding international order. Who are the Industry’s Leading Regulators?Regulators such as the UK’s Financial Conduct Authority ( Like any other industry with a high net worth, the financial services industry is tightly regulated to help curb illicit behavior and manipulation. Each asset class has its own set of protocols put in place to combat their respective forms of abuse.In the foreign exchange space, regulation is assumed by authorities in multiple jurisdictions, though ultimately lacking a binding international order. Who are the Industry’s Leading Regulators?Regulators such as the UK’s Financial Conduct Authority ( Read this Term, policymakers, education and research.

The board also welcomed new members, including Lisa Shemie, who is the Chief Legal Officer of Cboe FX and Cboe SEF. In addition, the FXPA also secured Jill Sigelbaum, the Head of FXall, Thomson Reuters, as well as Christopher Matsko, the current Head of FX Trading Services at Portware to bolster the board’s personnel.

Shemie hit the ground running as the FXPA’s new Chair of the Policy Committee, addressing 5 working groups that will be the focus of the FXPA. The working groups were categorized as follows: FX Global Code, Cryptocurrencies Cryptocurrencies By using cryptography, virtual currencies, known as cryptocurrencies, are nearly counterfeit-proof digital currencies that are built on blockchain technology. Comprised of decentralized networks, blockchain technology is not overseen by a central authority.Therefore, cryptocurrencies function in a decentralized nature which theoretically makes them immune to government interference. The term, cryptocurrency derives from the origin of the encryption techniques that are employed to secure the netw By using cryptography, virtual currencies, known as cryptocurrencies, are nearly counterfeit-proof digital currencies that are built on blockchain technology. Comprised of decentralized networks, blockchain technology is not overseen by a central authority.Therefore, cryptocurrencies function in a decentralized nature which theoretically makes them immune to government interference. The term, cryptocurrency derives from the origin of the encryption techniques that are employed to secure the netw Read this Term, MiFID II and Cross-Border Regulation, SEF Trading, and Clearing and Margin.

Shemie commented on the FXPA’s outlook: “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. 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.”

With regard to the re-election of existing members, the FXPA also brought back Jason Vitale, the COO FX and Head of Client Execution at BNY Mellon Global Markets, Jonathon O’Donnell, an Investment Manager at CalPERS, and Tahreem Kampton, Senior Director at Microsoft, among others.

Other board members who were re-elected include Tod Van Name, Bloomberg’s Global Head of FX and Commodities Electronic Trading, Stephen Komon, Senior Portfolio Manager at Colorado PERA, and KC Lam, Head of FX and Rates at Singapore Exchange (SGX).

Additional existing members that have been maintained, include Jessica Sohl, President of HC Technologies, David Goone, Chief Strategy Officer at Intercontinental Exchange (ICE), Edgar Ramon, Global Head of FX at INTL FCStone, and Joseph Molluso, CFO of Virtu Financial.