FICC Standards Board (FMSB) issues new Standard on Secondary Market Trading Error Compensation

London, 20 March 2018 – The FICC Markets Standards Board (“FMSB”) today publishes its Transparency Draft Standard on Secondary Market Trading Error Compensation. The Standard deals with the issues concerning how compensation should be paid following a trading error. It sets out that compensation can be paid in the following ways: • By direct payment […]

Mark Carney, Governor of the Bank of England, commends FMSB for progress in building real markets for the good of the people

30 November 2017, London At an event hosted by the FICC Markets Standards Board (“FMSB”) yesterday, Mark Carney, Governor of the Bank of England, spoke of the FMSB’s work as an integral part of the Fair and Effective Markets Review (FEMR), and called for a comprehensive and dynamic solution to market regulation. He said: “Total […]

FMSB marks two years of progress with event addressed by Mark Carney and Andrew Bailey

London, 29 November 2017 – The FICC Markets Standards Board (“FMSB”) is delighted to announce it is hosting an event today which will be addressed by Mark Carney, Governor of the Bank of England, and Andrew Bailey, Chief Executive Officer of the FCA. FMSB was formed two years ago following the recommendations of the Fair […]

FICC Markets Standards Board issues new Standard on risk management activity associated with bond new issuance

London, 25 October 2017 – The FICC Markets Standards Board (“FMSB”) today publishes its Transparency Draft of the Risk Management Transactions for New Issuance Standard for the Fixed Income markets. The Standard sets out several core principles relevant to risk management transactions associated with new issues in the fixed income markets, and identifies potential conduct […]

FMSB Annual Report sets out new approach for dealing with abuse in wholesale markets

20 September 2017 The FICC Markets Standard Board (FMSB) has today issued its 2017 Annual Report setting out the progress it has made to enhance standards of behaviour in the wholesale Fixed Income, Currencies and Commodities (“FICC”) markets. FMSB was established in 2015 following the recommendations of the Fair and Effective Markets Review which was […]

FMSB Welcomes BIS Global FX Code

London, 25 May 2017. The FICC Markets Standards Board (FMSB) welcomes the new BIS Global FX Code launched today. The Code is an important step forward in improving practice standards in wholesale FX markets. Mark Yallop, Chair of FMSB said: “Conduct in the foreign exchange markets was one of the areas of concern highlighted by […]

FICC Markets Standards Board (FMSB) members make new issue process for bonds more transparent

London, 2 May 2017. Leading market participants have published final guidelines that clarify expected behaviour during the new issue process for fixed income bonds in Europe. A series of measures are detailed in the new standard from the FICC Markets Standards Board (“FMSB”) to enhance the fairness and effectiveness of the new issue process for […]

FICC Markets Standards Board issues guidelines on surveillance and training in wholesale markets

London, 8 December 2016. Using automated voice surveillance systems and surveillance techniques involving Natural Language Processing are among the emerging practices being used to combat the risk of insider dealing and market manipulation, according to new guidelines from the FICC Markets Standards Board (“FMSB”). The practices are highlighted in a new FMSB paper or ‘Statement […]

FICC Markets Standards Board proposes greater transparency in new issue process for debt

London, 18 November 2016. Banks should be more transparent about their allocation policies and investors should make sure their orders are a true representation of their demand, according to a proposed new standard on corporate and other debt issues from the FICC Markets Standards Board (“FMSB”). The New Issue Process Standard for the Fixed Income Markets sets […]