Posted by Colin Lambert. Last updated: June 8, 2026
The Group Head of Markets and Investment at the Monetary Authority of Singapore has been endorsed as the next chair for the Global Foreign Exchange Committee, taking over from Gerardo García, the general director of central banking operations at the Bank of Mexico.
The GFXC held its latest meeting in Toronto last week, during which it endorsed the new chair, as well as discussed developments in settlement, emerging markets and the priorities of the innovation and technology working group. The standard setters also discussed digital assets and AI and their impact on FX markets from a resiliency perspective as well as a source of new opportunities.
“There are three parts: to look back, to look forwards and to look outwards,” the newly-appointed chair told The Full FX.
Next year, the FX Global Code will celebrate its 10th anniversary, which will coincide with a comprehensive review of the principles that govern foreign exchange trading. In the nine years since its inception, the standard setting group has managed to get 1540 institutions globally to sign up to adhere to the rules.
Digital assets, both in the context of settlement and trading, will be part of the 2027 review, Manuel Mondedeu, co-vice chair of the GFXC and co-head of global FX at CIBC Capital Markets, as well as the chair of the innovation group, confirmed.
