Again, it is very much a global effort reflecting the global nature of the foreign exchange market. This work is also very much a public sector–private sector partnership. In that regard, we are being ably and vigorously supported in this work by a group of market participants, chaired by David Puth, CEO of CLS.
The group contains people from all around the world on the buy side, including corporates and asset managers, and the sell side, along with trading platforms, ECNs and non-bank participants, drawing from the various Foreign Exchange Committees (FXCs) and beyond. There are a number of members of David’s group which are from Asia, including Singapore.