Chip Lowry

Advisor at FXPA

Chip Lowry is a prominent figure in the foreign exchange (FX) industry with extensive experience and involvement in various aspects of FX markets and regulation. Here's a comprehensive overview of his background and current roles:

Professional Experience

Chip Lowry recently retired from a 31-year career at State Street Global Advisors, where he held the position of Senior Managing Director.3 During his tenure at State Street, Lowry played a significant role in the electronification of FX markets, particularly in the development and integration of FXConnect, which was launched in 1996.3

Throughout his career at State Street, Lowry held various positions, including:

Running the GlobalLink EMEA business in London for five years
Working with the Currenex team in New York after State Street's acquisition in 2017
Starting the agency FX business for State Street
Overseeing first line business risk management for Global Markets
Retooling the bank's market surveillance efforts for Global Markets businesses3

Current Roles and Affiliations

Foreign Exchange Professionals Association (FXPA): Chip Lowry currently serves as an Advisor to the FXPA.4 He previously held the position of chair of the association.1 2

Commodity Futures Trading Commission (CFTC): In September 2022, Lowry was selected as a member of the CFTC's Market Risk Advisory Committee (MRAC).1 2 In this role, he represents the FXPA on the committee, which consists of approximately 30 members.1

Expertise and Contributions

Lowry brings over three decades of knowledge and experience in the foreign exchange industry, market structures, and infrastructure to his current roles.2 His expertise includes:

FX market electronification and evolution
Regulatory and policy issues in the US, Europe, and Asia
Derivatives markets, including non-deliverable forwards (NDFs)
Digital asset regulation
Post-trade swap data reporting
Swap execution facility (SEF) registration and regulation1

Industry Impact

Lowry has been instrumental in advancing the FX industry's understanding and adoption of electronic trading practices. He has witnessed and contributed to significant changes in the FX market, including:

The development of straight-through processing for FX trades
The evolution of credit intermediation in foreign exchange
The implementation of the FX Global Code following the fixing scandal
The ongoing challenges related to transaction cost analysis (TCA) in the fragmented FX market3

Chip Lowry's extensive experience and current roles position him as a key figure in shaping the future of FX markets, particularly in areas of regulation, market structure, and technological advancement.