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


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

A not-for-profit, privately-owned change agent, we are the leading market-led, global standards body for fair and effective wholesale financial markets.

Led by practitioners from the sell-side, buy-side and corporations as well as data providers, trading venues, exchanges and other platforms, we develop Standards, Statements of Good Practice and Spotlight Reviews.

Our Members make us. Our model is consensus-driven. Subject matter experts from Member firms debate issues and standards in working groups and are able to benchmark their approaches against industry peers, thus helping to lift standards of conduct.  See what they’re working on in our five committees.

Find out more about FMSB:

News and publications




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.




This Financial Markets Standards Board (“FMSB”) Transparency Draft is applicable to firms when onboarding or reviewing client files under the UK requirements for KYC and AML. It proposes a Standard for the Documentation Requirements, and processes for …read more.




FMSB Senior Technical Specialist Ted MacDonald highlights the potential for risk and accounting professionals to play a significant role in raising standards of conduct and culture in the banking sector in his preface to: Risk cultures and banking: whe …read more.

Sign up to our mailing list