About FXT

FX Transparency is an independent provider of foreign exchange transaction cost analysis (FX TCA) and currency execution consulting. The firm’s mission is to quantify and reduce currency-trading costs for all institutional buy-side market participants around the globe. FX Transparency was founded in April 2009 and has offices in Framingham, Massachusetts and Melbourne, Australia. For more information about FX Transparency’s TCA services or to see how your company’s execution costs compare to others using the FXT Peer Universe™ program, please contact us.

Management Team

John Galanek, CEO

Mr. Galanek co-founded FX Transparency in 2009 and currently serves as the firm’s CEO. He has a broad spectrum of foreign exchange experience trading on both the buy-side and sell-side of the market. Mr. Galanek continues to pioneer new methods in foreign exchange transaction cost analysis (FX TCA) to provide cost clarity to buy-side market participants. Prior to FX Transparency, he was Senior Vice President of Foreign Exchange at Harvard Management Company where he managed an FX options portfolio and currency execution for the endowment. Before Harvard, Mr. Galanek was Vice President of Foreign Exchange Trading at Wellington Management. Earlier in his career, he spent five years as a sell-side FX forward and short-term interest rates trader at FleetBoston Financial. Mr. Galanek holds an M.B.A. from Boston College and a B.S. in Architectural Engineering from the University of Colorado. He is a Certified Treasury Professional (CTP) and has held that designation since 2012.

Joe Conlan, Head of Business Development

Mr. Conlan joined FX Transparency in 2020 to run the Global Business Development effort.  He has spent the past 25 years at the forefront of the FX industry’s technology-driven trends. During the 1990’s he promoted new electronic FX trading platforms and opened offices for EBS & Cognotec in Chicago. In the early 2000’s he helped to migrate the CME’s FX futures from the Exchange Floor to e-trading platform Globex. Later, Mr. Conlan opened Intergal’s New York office before taking on the senior sales role at Currenex. He then designed a trading algo at Rosenthal Collins that arbitraged spot FX versus futures, before moving onto INTL FCStone, where for over a decade he managed the development of the first FX Prime of Prime offering. Mr. Conlan holds an MBA from Fordham University and a BS in Business Administration from Villanova University. He is a founding member of the FinPro Network, a non-profit financial industry association dedicated to helping members face career challenges.

Peter Kosakowski, CTO

Mr. Kosakowski has been the chief technical officer (CTO) of FX Transparency since 2013. He is an expert in ETL development using ETL Tools and Software.  Mr. Kosakowski has spent over 20 years actively involved in developing data warehousing, business intelligence and analytical solutions.  He has been involved with computer software since the 1980s.  During the 1990s he founded an internet startup which specialized in database-driven web technology.  Through that company he developed numerous stand alone and custom applications.  Prior to FX Transparency, Mr. Kosakowski performed software and database development work for Fidelity Investments.  He has always enjoyed a challenge and prides himself on being able to move difficult projects forward.  Mr. Kosakowski possesses multiple degrees from the University of Massachusetts.

Michael Ciampi, Senior Quantitative Analyst

Mr. Ciampi joined FX Transparency in 2013 and serves as the firm’s senior quantitative analyst. He oversees quality control of both currency-market and client data. Mr. Ciampi deploys a number of strategies to ensure all data meet the firm’s high standards. Prior to joining FX Transparency, Mr. Ciampi interned with SRI Capital Advisers and NPV Europe in London, UK, where he conducted research on a broad spectrum of global industries with an emphasis on the financial sector (hedge funds, mutual funds, ETFs, and asset managers), and prepared term sheets for funds advised by SRI.  Mr. Ciampi holds a B.S. in Management from Boston College, with concentrations in Finance and Accounting.  Outside of work, Mr. Ciampi attained the rank of Eagle Scout in the Boy Scouts of America, and is an avid tennis player.