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FOREIGN EXCHANGE PROFESSIONALS ASSOCIATION
KATONAH, NY · EIN 472026757 · Form 990 · FY2024 · NTEE S40 · Community Improvement · Small ($100K-$1M) · fxpa.org
revenue
$200K
expenses
$351K
net assets
$49K
employees
0
volunteers
14
mission · from form 990

TO REPRESENT THE COLLECTIVE INTEREST OF INDIVIDUALS AND COMPANIES THAT PARTICIPATE IN THE INSTITUTIONAL FOREIGN EXCHANGE MARKETPLACE AND TO PROMOTE THE NEED FOR SOUND, LIQUID, TRANSPARENT, AND COMPETITIVE GLOBAL CURRENCY MARKETS TO POLICY MAKERS THROUGH EDUCATION, RESEARCH AND ADVOCACY.

profile · synthesized from sources

The Foreign Exchange Professionals Association (FXPA) is a Washington-based trade association representing institutional foreign exchange market participants. It advances a sound, liquid, transparent, and competitive global currency market by providing education, research, and advocacy to policymakers and regulators. The organization fosters collaboration among diverse market participants, including banks, buy-side firms, exchanges, and technology providers, to shape market structure and regulatory policy.

named programs · 4 · from sources

What they call their work

Advocacy and Regulatory Engagement
Engages with global regulators and policymakers through comment letters, statements, and direct meetings to represent the collective interests of FX market participants on issues such as clearing mandates, benchmark regulations, and derivatives rules
Buy Side Working Group
Member-driven working group that develops industry guidance on execution practices, transparency, and market integrity from the buy-side perspective
Digital Assets and Market Innovation Initiative
Explores emerging areas such as digital assets, stablecoins, and settlement innovation through dedicated working groups and thought leadership
Education and Research
Produces educational papers and guidance documents on key industry topics including FX market structure, spread grids, internalisation in algo execution, and FX benchmarks to inform regulators, media, and market participants
activities · 3 groups

What they do

  • Industry Advocacy and Regulatory Engagement 2 activities
    • Advocacy for sound and transparent global FX markets
      Engages with regulators, policymakers, and global bodies such as ESMA, CFTC, SEC, and the Global Foreign Exchange Committee to advocate for a sound, liquid, transparent, and competitive foreign exchange market. Activities include submitting formal comments, issuing public statements, and holding direct meetings in locations including Washington, DC and Singapore.
    • Providing education to regulators and market institutions on FX issues
      Delivers educational content and briefings to legislators, regulators, central banks, multinational organizations, and trade bodies on technical aspects of foreign exchange markets, including execution quality, post-trade reporting, risk controls, and regulatory frameworks.
  • Professional Field Knowledge Development 1 activity
    • Publishing research and educational guidance on FX market practices
      Produces white papers, industry guidance, and educational materials on key FX market topics including FX spread grids, internalisation standards, FX derivatives trading venues, benchmark rates, Last Look, and T+1 settlement implementation to promote common understanding and standardization among market participants.
  • Uncategorized 1 activity
    • Facilitating industry collaboration through member-driven committees
      Operates standing committees focused on operations, legal and compliance, technology, market structure, and other industry areas, open to all members and reporting to the Board of Directors, to collaboratively address structural and operational challenges in the FX market.
financials · form 990 · fy2024
revenue
Total revenue$200K
Contributions & grants$00%
Program service revenue$200K100%
Investment income$00%
Other revenue$0
expenses
Total expenses$351K
Program expenses—
Admin / overhead—
Fundraising—
Salaries & benefits$0
Grants paid out$0
Largest expense lineProfessional Fees
balance sheet
Total assets$69K
Cash$68K
Investments$0
Liabilities$20K
Net assets$49K
Liquid reserves2.3 mo
5 years on record · 2020–2024 · YoY revenue -16.7%
leadership · form 990 part vii · fy2024

Who runs it

board members · 10
  • CATHERINE POULTON — CO-SECRETARY
  • DALE HAVER — VICE-CHAIRPERSON
  • JEFFERY ROBERTS — TREASURER
  • JOHN MARCHESE — DIRECTOR
  • JOSEPH HOFFMAN — CHAIRPERSON
  • PAUL HOPKINSON — DIRECTOR
  • RICHARD TURNER — DIRECTOR
  • SCOTT HALVORSEN — DIRECTOR
  • TAYLOR HABERSTOCK — DIRECTOR
  • TERESA KNAPP — CO-SECRETARY
relationships · 53

Who they work with

  • Atlassian Partner — Advisory member of FXPA
  • Atlassian Partner — Advisory member of FXPA, providing corporate end-user insights into FX market practices.
  • Bloomberg Partner — Founding member of FXPA, contributing to advocacy and governance.
  • Bloomberg Partner — Founding member of FXPA, represented on the Board of Directors and Founders’ Council
  • Bloomberg Partner — Member firm represented on FXPA Board through Paul Hopkinson.
  • Bloomberg Partner — Organization of continuing Board member Oleg Shevelenko, indicating ongoing leadership integration.
  • CME Group Partner — Founding member of FXPA, involved in shaping market structure and regulatory positions.
  • CME Group Partner — Founding member of FXPA, represented on the Board of Directors and Founders’ Council
  • CME Group Partner — Member firm represented on FXPA Board and leadership, with Jeff Roberts serving as Treasurer.
  • CME Group Partner — Organization of Board member and Treasurer Josh Matthews, indicating leadership integration.
  • Cboe Partner — Organization of Board member Mike Margolis, indicating leadership integration.
  • Cboe Global Markets Partner — Founding member of FXPA, participating in industry dialogue and policy engagement.
  • Cboe Global Markets Partner — Founding member of FXPA, represented on the Board of Directors and Founders’ Council
  • Cboe Global Markets Partner — Member firm represented on FXPA Board through Scot Halvorsen.
  • Colorado PERA Partner — Advisory member of FXPA
  • Colorado PERA Partner — Advisory member of FXPA, representing public pension fund interests in FX markets.
  • Fidelity International Partner — Advisory member of FXPA, contributing asset management perspective on currency trading.
  • Global Foreign Exchange Committee Partner — Collaborates with GFXC on amendments to the FX Global Code and submits feedback on proposed changes.
  • GlobalLink Partner — Supporting member of FXPA, engaged in industry initiatives.
  • GlobalLink Partner — Supporting member of FXPA, with multiple representatives on the Board of Directors
  • GlobalLink FX Partner — Organization of Board member Terri Knapp and Stuart Parkins, indicating leadership integration.
  • Insight Investment Partner — Advisory member of FXPA, engaged in shaping best practices and policy positions.
  • Insight Investment Partner — Advisory member of FXPA, with representation on the Board of Directors
  • Insight Investment Partner — Member firm represented on FXPA Board through Richard Turner.
  • Insight Investment Partner — Member organization whose representative chaired the FXPA Buy Side Working Group responsible for developing the guidance.
  • Insight Investment Partner — Organization of Board member Richard Turner, indicating leadership integration.
  • Insight Investment Partner — Represented through Richard Turner, Chair of FXPA’s Buy Side Working Group, in the development of industry guidance on FX spread grids.
  • Mesirow Partner — Advisory member of FXPA, contributing investment management viewpoint on FX regulation.
  • Mesirow Currency Management Partner — Member firm represented through leadership role in FXPA, with CEO Joe Hoffman serving as Chair.
  • Mesirow Currency Management Partner — Organization of the FXPA Chair, Joe Hoffman, indicating leadership integration.
+ 23 more
strategies · 5

How they approach the work

Named approaches extracted from this org’s sources. Where others share an approach, follow it to see the full set of orgs running it.

  • Data-Enhanced Market Transparency
    methodology: data-driven_execution_assessment
    By promoting data-driven execution assessment and standardized definitions, the organization improves market transparency and reduces information asymmetry, because consistent metrics and shared benchmarks enable better decision-making and trust across institutional FX participants.
  • Member-Driven Consensus Advocacy
    methodology: consensus_driven_advocacy
    By convening a diverse membership of FX market participants and building consensus through collaborative dialogue, the organization produces unified policy positions that reflect broad industry expertise and enhance legitimacy in regulatory advocacy, because collective input leads to more resilient and widely supported reforms.
  • Policy Advocacy Through Research and Representation
    methodology: policy-engagement-through-research-and-advocacy
    By conducting research and engaging policymakers with evidence-based advocacy, the organization advances market integrity and competitiveness, because credible, non-partisan analysis strengthens its influence in shaping balanced regulatory frameworks.
  • Practitioner-Led Policy Development
    methodology: practitioner-led_working_groups
    By using practitioner-led working groups and forums, the organization develops practical, implementable guidance on evolving market challenges—such as digital assets and execution quality—because frontline expertise ensures relevance, adoption, and operational feasibility.
  • Principles-Based Regulatory Framework Support
    methodology: principles-based regulation
    By supporting principles-based regulation, the organization promotes adaptable and globally relevant standards, because flexible regulatory approaches accommodate diverse jurisdictions and evolving market conditions more effectively than rigid rules.