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& Education

Event

2025 FX Market Structure Conference

December 17, 2025

As the largest financial market worldwide, the foreign exchange (FX) market is critical to supporting international trade, investment, and finance. Given its critical role, it is important to deeply understand and analyze developments in the market.

In this context, the Federal Reserve Bank of New York will host its second annual FX Market Structure Conference on December 17, 2025.

This event will build on the themes of last year’s conference, which included the evolution of the types of market participants and mix of instruments traded, continued decentralization of trading venues, and increased usage of automation. It will also delve into the most current developments in the FX market landscape like the macro environment’s impact on trading activity, FX Global Code updates, derivative instrument pricing, and innovations in execution and settlement speed.

The event will feature opening remarks from President John Williams, a keynote address by Head of the Markets Group Anna Nordstrom, and several panel discussions.

Topics will include:

The macro environment's impact on FX trading activity
Key trends in FX market liquidity and price discovery
FX Global Code adherence across market participant types
Structural dynamics in FX swaps and other derivatives markets
Current challenges in the FX market ecosystem
Innovation and the future of the FX market

Event Details

Date & Time

December 17, 2025

Location

Federal Reserve Bank of New York
33 Liberty Street
New York, NY

Audience

In-person attendance is by invitation only. The event will also be streamed, with a live webcast available on this page starting the morning of the conference. A recording of the event will be available soon after.

Media

This event is on the record and open to media. For media who have questions, please contact Shelley Pitterson at the New York Fed at Shelley.Pitterson@ny.frb.org.

Organizing Committee

Lisa Chung, Federal Reserve Bank of New York
Subrina Lashenko, Federal Reserve Bank of New York
Martin Prusinowski, Federal Reserve Bank of New York
Fabiola Ravazzolo, Federal Reserve Bank of New York
Dan Reichgott, Federal Reserve Bank of New York

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