18 Aug 2025
10:15 -21:00
19 Aug 2025
09:00 -21:00
Times are shown in local time
This event was open to: Presenting authors, discussants, the programme committee and invited guests.
Cambridge Judge Business School
Trumpington St
Cambridge
CB2 1AG
United Kingdom
The 2025 Symposium on Foreign Exchange Markets took place on 18-19 August 2025 at University of Cambridge, Judge Business School.
The event featured presentations from leading scholars and lively discussions with practitioners, covering key topics such as FX liquidity, risk management, central bank interventions, and the impact of AI and digital currencies on currency markets.
John Maynard Keynes addressing the Bretton Woods conference, 1944.
10:00-10:50
10:50-11:00
11:00-13:00
Chair: Josef Zechner
11:00-11:40
Discussant: Fabricius Somogyi, Northeastern University
11:40-12:20
Discussant: Nicola Borri, LUISS
12:20-13:00
Discussant: Xiang Fang, Hong Kong University
13:00-14:00
14:00-15:20
Chair: Xiao Xiao
14:00-14:40
Discussant: Leland Bybee, University of Chicago Booth School of Business
14:40-15:20
Discussant: Pasquale Della Corte, Imperial College London
15:20-15:45
15:45-16:45
Moderator: Chris Povey, Head of FX Options, CME Group
17:30-18:30
18:30-21:00
08:30-09:00
09:00-11:00
Chair: David Chambers
09:00-09:40
Discussant: Gino Cenedese, Fulcrum Asset Management
09:40-10:20
Discussant: Paul Whelan, Chinese University of Hong Kong
10:20-11:00
Discussant: Riccardo Colacito, UNC Chapel Hill
11:00-11:30
11:30-12:50
Chair: Lucio Sarno
11:30-12:10
Discussant: Can Cao, University of St Gallen
12:10-12:50
Discussant: Ricardo Reis, LSE
12:50-14:00
14:00-16:00
Chair: Christian Wagner
14:00-14:40
Discussant: Wei Opie, Deakin University
14:40-15:20
Discussant: Philippe Mueller, University of Warwick
15:20-16:00
Discussant: Andrea Vedolin, Boston University
17:30-18:30
18:30-21:00
All symposium sessions were recorded and will be made available once post-production editing is complete. Links to these recordings will be shared on this page when available.
Sarah Carter is Executive Director of the University of Cambridge’s Centre for Endowment Asset Management, and previously set up and managed the Master of Finance at Cambridge Judge Business School. Before that, she worked for Plan International and for the United Nations Association. She has undertaken PhD coursework and research at the University of Wales, Aberystwyth, and was awarded an MA with distinction in International Studies by Durham University and a BA (Hons) in Psychology by the University of Hertfordshire.
Merve is Centre Manager of the University of Cambridge’s Centre for Endowment Asset Management (CEAM). Prior to joining CEAM, she was practicing corporate law in Turkey as an in-house lawyer in Istanbul. Merve holds LLM in Economic Law from Galatasaray University, and LLB from Istanbul University.
We are grateful to CME Group for supporting the Symposium on Foreign Exchange Markets. CME Group operates 2 globally critical FX marketplaces – the world’s largest venue for exchange traded FX futures and options, and EBS, the primary market for FX spot and non-deliverable forwards (NDFs).
We are grateful to Pembroke College, Cambridge for supporting the Symposium on Foreign Exchange Markets through its International Finance Fund. The fund was established to encourage and promote high quality scholarship within international finance.
We are grateful to the Cambridge Endowment for Research in Finance (CERF) for supporting the Symposium on Foreign Exchange Markets. CERF promotes research at the University of Cambridge into all aspects of the practice and history of finance, financial institutions, and financial markets, and their relationship with economic behaviour and performance.