The Financial Markets Standards Board (FMSB) is a practitioner-led standards setter.


We work directly with market practitioners
and others globally, including:

FMSB is an industry-led, member-funded, not-for-profit, global standards body for the wholesale financial markets. Our Members represent all parts of the wholesale financial industry: banks, investment institutions, infrastructure providers, corporates, pension funds and interdealer brokers. Collectively, they account for a significant proportion of the global wholesale financial market.

FMSB produces a range of publications, driven by a structured approach to horizon scanning and actively developed by Members in our five Committees and Working Groups:

FMSB Standards
Standards of market practice that Members are formally committed to adhere to.

Statements of Good Practice (SoGP)
Reflecting FMSB’s view of what constitutes best practice in a particular area. Members are expected to review and adapt their own market practices to align with relevant SoGPs although there is no formal adherence requirement.

Spotlight Reviews
Focused on important emerging issues, drawing on the insight of Members and industry experts to highlight new challenges for the market and inform topics for future work.

Find out more about FMSB:

News and publications




Financial Markets Standards Board (FMSB), a market-led, global standards body for fair and effective wholesale financial markets, has joined the International Organization of Securities Commissions (IOSCO) as an Affiliate Member. Joining IOCSO supports …read more.




FMSB’s 2023 Annual Report is now live. The report highlights key publications last year including: Spotlight Reviews on The 3 Lines Model: A lens on risk management frameworks, on Conduct and Culture MI and the final Spotlight Review in our precious me …read more.




Financial Markets Standards Board (FMSB) today launches its final Statement of Good Practice for the application of a model risk management framework to electronic trading algorithms. Sophisticated modelling techniques used for calculating trading risk …read more.




On International Women’s Day Sabina Liu, the first participant in FMSB’s Board mentoring programme, shares her perspective on how the programme benefitted both her and FMSB, as well as giving her advice to anyone aspiring to board roles in financial se …read more.

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