State Street’s Snyder named head of forex trade body

Mark Snyder, US bank State Street’s global head of currency and money market sales and trading, has been appointed chairman of the Foreign Exchange Committee, a 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.

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