FX committees prepare for platform proliferation

committee

Over the past 40 years, the central bank-sponsored foreign exchange committees in the main financial centres have become a crucial mechanism for authorities to keep a close watch on activity in the largely unregulated FX market. Through regular meetings with senior market participants as well as the semi-annual turnover surveys, central banks have been able to carefully monitor activity on key platforms and utilities such as CLS, EBS and Thomson Reuters.

A possible proliferation of new trading p