The Fixed Income, Currencies and Commodities Markets Standards Board (FMSB) is a standards setting body for the wholesale Fixed Income, Currency and Commodities (FICC) markets.

We are practitioner-led and owned and operated by the major participants in wholesale markets.

Our members consist of banks, asset managers, corporations, brokers, trading platforms, exchanges and infrastructure providers.

We are unique in bringing together this breadth of market participants to develop Standards and Guidelines which raise standards of behaviour, competence and awareness and thereby promote the fairness and effectiveness of wholesale markets.

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Improving conduct in FICC markets

Danielle Myles speaks with Mark Yallop, chair of the FICC Markets Standards Board about why regulation alone can’t govern market behaviour and misconduct’s cost to the banking industry.