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.

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




15 July 2024 – Norton Rose Fulbright | Global Regulation Tomorrow features the publication of the FMSB – Transparency draft on standard for sharing of standard settlement instructionsread more.




15 July 2023 – The FullFX features publication of Transparency Draft of the Standard for Sharing Settlement Instructions (SSI’s)read more.




This Financial Markets Standards Board (“FMSB”) Transparency Draft of Standard for Sharing of Standard Settlement Instructions (SSIs) is applicable to Firms when sharing their own SSIs, or where they manage their clients’ SSIs as part of their commerci …read more.




Moody’s Corporation has joined Financial Markets Standards Board Limited (FMSB) as a Full Member. The addition of Moody’s further broadens FMSB’s membership base and deepens the expertise available to draw upon, via its Committees and Working Groups, t …read more.




31 May 2024 – FXAlgoNews features launch of final Statement of Good Practice for the application of a model risk management framework to electronic trading more.

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