GFMA Welcomes Final FSB Foreign Exchange Benchmark Report
London, UK, 30 September 2014 ‐ The Global Foreign Exchange Division (GFXD) of the Global Financial Markets Association (GFMA) welcomes publication of the Financial Stability Board (FSB) Foreign Exchange Benchmarks report.
James Kemp, Managing Director of the Global FX Division of the GFMA, commented:
“GFMA’s Foreign Exchange Division, which represents many of the international dealers in the $5trn a day FX industry, welcomes the final FSB report, outlining these key areas for industry focus. As the report highlights, there may well be challenges and costs in implementing the changes, but enhancing confidence in the market is crucial and the industry will adapt to embrace these recommendations.”
See more: FSB Press Release - Foreign Exchange Benchmarks – Final Report (PDF)
The Global Financial Markets Association (GFMA) brings together three of the world’s leading financial trade associations to address the increasingly important global regulatory agenda and to promote coordinated advocacy efforts. The Association for Financial Markets in Europe (AFME) in London and Brussels, the Asia Securities Industry & Financial Markets Association (ASIFMA) in Hong Kong and the Securities Industry and Financial Markets Association (SIFMA) in New York and Washington are, respectively, the European, Asian, and North American members of GFMA.