The Foreign Exchange Professional Association (FXPA) has announced the appointment of John Shay to the newly created position of President.

Mr. Shay brings a wealth of experience to the position and will look to enhance the organization’s global reach and expand its membership. In addition to him, the FXPA has also added Justin Slaughter, who represents Mercury Strategies, to take on the role of legal counsel for the organization.

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FXPA Chairman Chip Lowry commented: “We are excited to welcome John and Justin to FXPA. They will be involved on a day-to-day basis, leading the group’s efforts to focus on the issues that matter most to the FX industry and help fulfil our mission statement, which is to advance a sound, liquid, transparent and competitive global currency market through education, research and advocacy.”

Mr. Shay has already been involved with FXPA, serving as a board member during his tenure at FXPA founding member firm Virtu Financial, where he worked as Executive Vice President of Technology and Transaction Services. Prior to the FXPA appointment, his most recent job was at Nasdaq, where he officially held the position of Senior Vice President and Global Head of Fixed Income and Commodities. Mr. Shay is also the founder and a managing partner of Capital Market Services Inc.

Mr. Shay’s career began at ICAP, where he maintained a steady tenure of almost 25 years. His final position within the company was Executive Vice President of Sales and Marketing. It is clear the FXPA was searching for an individual with extensive expertise in the FX industry, as well as familiarity with FXPA operational structure and functionality.

Commenting on his new position, Mr. Shay said: “I’m excited to be back involved with FXPA and look forward to rolling my sleeves up and getting to work. FXPA’s membership is unique in that it comprises a diverse set of FX industry leaders who together represent the breadth of the FX marketplace. In harnessing this knowledge base, FXPA is operating from a position of strength and can concentrate its collective efforts on areas that will benefit from better standards and practices in accordance with our mission to promote a healthy global FX market.”