FXPA’s Lowry on bringing an FX angle to the CFTC
State Street’s Chip Lowry, a board member and former chair of the Foreign Exchange Professionals Association, talks to Euromoney about his new role on the Commodity Futures Trading Commission’s market risk advisory committee.
In September, the Foreign Exchange Professionals Association (FXPA) announced that Chip Lowry – a senior managing director at State Street and former chair of the association – had been selected as a member of the Market Risk Advisory Committee of the Commodity Futures Trading Commission (CFTC) in the US.
The committee advises the CFTC on matters relating to the evolution of market structures and movement of risk across clearing houses, exchanges, intermediaries, market makers and end-users, examining systemic issues that threaten the stability of the derivatives markets and other financial markets and making recommendations on how to improve market structure and mitigate risk.
Given that the FXPA was established to engage with regulators and policymakers, the body has much to gain from getting a seat at the CFTC’s table.
“The market risk advisory committee represents an important forum for the industry and the Commodity Futures Trading Commission to confer on issues that impact financial markets,” Lowry tells Euromoney.
The FXPA is the only industry organization that represents the combined views of liquidity providers, buy-side firms, trading platforms and exchanges
The newest member of the CFTC committee comes with a deep knowledge of the foreign exchange industry, market and infrastructure acquired over more than three decades at State Street.