Droit, a regulatory technology firm, has joined Financial Markets Standards Board (FMSB) as an Associate Member. The addition of Droit widens the pool of expertise available to develop FMSB’s work, via its Conduct & Ethics Committee in particular, which Droit will join going forward.
Myles McGuinness, FMSB CEO, said:
“We are pleased to welcome Droit as an Associate Member of FMSB. Our Conduct & Ethics Committee has recently established a Working Group to examine the issue of unauthorised trading with a view to developing good practice guidance in this area. We look forward to being able to draw on the expertise of Droit in terms of the role technology might play with regard to strengthening trading controls as part of this work.”
Craig Butterworth, Chief Commercial Officer at Droit said:
“We are delighted to be joining FMSB and contributing to the work of the Conduct & Ethics Committee. At Droit we build products that can play a pivotal role in enabling firms to operate real-time trading controls to help them both prevent and detect non-compliant trades. We look forward to working with FMSB Members to inform their work on unauthorised trading and on further topics where we can usefully contribute our expertise to help raise standards across wholesale markets.”
Notes to editors
About us
●Financial Markets Standards Board (FMSB) is an industry-led, member-funded global standards body for the wholesale financial markets.
●Created out of the Fair and Effective Markets Review (FEMR) in 2015, FMSB brings together its Members from banks, investment institutions, infrastructure and information providers, corporates, pension funds and interdealer brokers, to develop Standards, Statements of Good Practice and Spotlight Reviews that raise standards of behaviour, competence and awareness – to promote the fairness and effectiveness of global wholesale financial markets.
●As well as standard setting, subject matter experts from member firms debate issues in working groups and are able to benchmark their approaches against industry peers, thus helping to lift standards of conduct.
FMSB’s full membership list is here
About Droit:
● Droit is a technology firm at the forefront of computational law and regulation . Founded in 2012, Droit counts many of the largest financial institutions as its clients. Its award-winning, patented platform Adept provides an implementation of regulatory rules reflecting industry consensus. The Adept platform processes tens of millions of inquiries a day, deciding in real-time which interactions are legally permissible across the globe. Adept is used by institutions to evaluate, with sub-millisecond latency, the full regulatory implications of any given interaction within their transactional infrastructure.
● Droit’s pre-trade suite of products enables clients to determine granular permissibility in real-time, applied via hard and soft blocks, all evidenced by industry-leading auditability and transparency.
For more information:
Laura Conaghan
+44 (0)7929 72669
Laura.conaghan@fmsb.com