The Foreign Exchange Committee, founded in 1978, is an industry group that provides guidance and leadership to the global

foreign exchange market The foreign exchange market (Forex, FX, or currency market) is a global decentralized or over-the-counter (OTC) market for the trading of currencies. This market determines foreign exchange rates for every currency. It includes all as ...

. The FXC includes representatives of major financial institutions engaged in foreign currency trading in the United States and is sponsored by the

Federal Reserve Bank of New York The Federal Reserve Bank of New York is one of the 12 Federal Reserve Banks of the United States. It is responsible for the Second District of the Federal Reserve System, which encompasses the State of New York, the 12 northern counties of Ne ...

. Aware of the strong integration of the global foreign exchange market, the FXC is also an active partner to other foreign exchange committees and industry associations worldwide.

Objectives

The FXC’s objectives include: *serving as a forum for the discussion of good practices and technical issues in the FX market, *fostering improvements in risk management in the FX market by offering recommendations and guidelines, and *supporting actions that facilitate greater contractual certainties for all parties active in foreign exchange.

Management

Foreign Exchange Committee is managed by a Committee of maximum 35 members. Members are chosen based upon stature within their companies as well as within the marketplace. As of 2013, the Committee has members from companies such as

Goldman Sachs Goldman Sachs () is an American multinational investment bank and financial services company. Founded in 1869, Goldman Sachs is headquartered at 200 West Street in Lower Manhattan, with regional headquarters in London, Warsaw, Bangalore, Ho ...

Citigroup Citigroup Inc. or Citi ( stylized as citi) is an American multinational investment bank and financial services corporation headquartered in New York City. The company was formed by the merger of banking giant Citicorp and financial conglomera ...

and

BlackRock BlackRock, Inc. is an American multi-national investment company based in New York City. Founded in 1988, initially as a risk management and fixed income institutional asset manager, BlackRock is the world's largest asset manager, with trill ...

. Past Committee members were John Spurdle of J.P. Morgan, Jeff Feig of Citigroup, Lloyd Blankfein of Goldman Sachs, Paul Kimball of

Morgan Stanley Morgan Stanley is an American multinational investment management and financial services company headquartered at 1585 Broadway in Midtown Manhattan, New York City. With offices in more than 41 countries and more than 75,000 employees, the fir ...

, Michael deSa of

Deutsche Bank Deutsche Bank AG (), sometimes referred to simply as Deutsche, is a German multinational investment bank and financial services company headquartered in Frankfurt, Germany, and dual-listed on the Frankfurt Stock Exchange and the New York Sto ...

, Robert Savage of

American Express American Express Company (Amex) is an American multinational corporation specialized in payment card services headquartered at 200 Vesey Street in the Battery Park City neighborhood of Lower Manhattan in New York City. The company was found ...

, Mark De Gennaro of

Lehman Brothers Lehman Brothers Holdings Inc. ( ) was an American global financial services firm founded in 1847. Before Bankruptcy of Lehman Brothers, filing for bankruptcy in 2008, Lehman was the fourth-largest investment bank in the United States (behind Gol ...

, and John Key, the former

Prime Minister of New Zealand The prime minister of New Zealand ( mi, Te pirimia o Aotearoa) is the head of government of New Zealand. The prime minister, Jacinda Ardern, leader of the New Zealand Labour Party, took office on 26 October 2017. The prime minister (inform ...

References

{{Reflist Foreign exchange market Political and economic think tanks in the United States