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Speech
The FX Global Code: Progress Made and The Path Ahead
Remarks at FX Markets USA, New York City.
Discussion Paper
Towards Increasing Complexity: The Evolution of the FX Market
The foreign exchange market has evolved extensively over time, undergoing important shifts in the types of market participants and the mix of instruments traded, within a trading ecosystem that has become increasingly complex. In this post, we discuss fundamental changes in this market over the past twenty-five years and highlight some of the implications for its future evolution. Our analysis suggests that maintaining a healthy price discovery process and fostering a level playing field among participants are areas to watch for challenges. The consequences of the evolution of the FX ...
Speech
The Important Role of the Foreign Investor in the U.S. Treasury Market
Remarks at 2023 U.S. Treasury Market Conference, Federal Reserve Bank of New York, New York City.