State Street’s Snyder named head of forex trade body

The New York-based Committee aims to serve as a communications channel between the Federal Reserve Bank of New York, which sponsors it, and market participants. It also serves as a forum for the discussion of technical and fair practice issues regarding the foreign exchange and international money markets.

Snyder will serve a two-year term. He has been a member of the Committee for the past five years, where he took part in formulating industry best practices.