The London Foreign Exchange Joint Standing Committee (FXJSC) Operations Sub‑Committee met on 18 March 2026 at the Bank of England to review FX market developments and resilience measures. Chair James Kaye of HSBC welcomed new committee members Ellie McCormack (FCA) and Hendrik van der Merwe (Northern Trust) and noted the addition of observer Adam Jukes of Deutsche Bank. Minutes from the November 2025 meeting were approved and highlighted growth in the FX options market and BIS survey results. Discussed emerging geopolitical and cyber risks, noting no material operational issues despite increased volumes. Loic Moreau of LSEG reported on 2026 clearing trends and product expansion. Eleanor Garrett updated the resilience communications framework, while Dean Chard detailed Swift FX standard changes. Updates on the Global FX Committee, CLS settlement volumes, and GFXD operational priorities were also presented.
© Governor and Company of the Bank of England.
Summary adapted from the Bank of England website (https://www.bankofengland.co.uk ).
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