Financial Markets Standards Board (“FMSB”) has today published a Statement of Good Practice (“SoGP”) on Unauthorised Trading Frameworks in Transparency Draft for industry consultation and feedback. The purpose of this publication is to help establish practical foundations…
Financial Markets Standards Board (“FMSB”) has today published a Spotlight Review – An update on Carbon Markets. This publication updates FMSB’s 2022 publication on Voluntary Carbon Markets, but widens the scope to include compliance markets. The…
Financial Markets Standards Board (“FMSB”) has today published a Spotlight Review on Uncleared Margin for OTC Derivatives. The Spotlight Review illustrates the impact of key frictions and support for potential solutions in greater detail than has been…
Financial Markets Standards Board (“FMSB”) has today published a Statement of Good Practice (“SoGP”) on the Governance of sustainability-linked products (“SLPs”), setting out globally applicable good practices to promote robust and consistent governance frameworks for these instruments.…
Financial Markets Standards Board (“FMSB”) has today published its Standard for Sharing of Standard Settlement Instructions (SSIs) as final. The Standard aims to increase the adoption of electronic solutions that allow for standardisation and pre-authentication of settlement…
Financial Markets Standards Board (“FMSB”) has today set out its Workplan for 2025. The 2025 Workplan includes work that is currently in progress across FMSB’s five Committees, as well as topics that have been raised for consideration…
Financial Markets Standards Board (“FMSB”) has today published in final form its updated Statement of Good Practice (“SoGP”) Front Office Supervision of Wholesale Traded Markets. The SoGP sets out 15 good practice statements, grouped under five themes,…
Financial Markets Standards Board (“FMSB”) has today published its Standard for Client Onboarding: Documentation and Processes and Annexes as final. The Standard was developed by a Working Group made up of representatives from FMSB Member firms and…
Financial Markets Standards Board (“FMSB”) has today published a Statement of Good Practice (“SoGP”) on the Governance of sustainability-linked products (“SLPs”) in Transparency Draft. The SoGP is intended to codify good practices for the governance of SLPs…
Financial Markets Standards Board (“FMSB”) has today published the Transparency Draft of its updated Statement of Good Practice (“SoGP”) for Front Office Supervision of Wholesale Traded Markets. Background The Front Office Supervision SoGP was first published in…
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…
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 and required capital…
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…
A compendium of FMSB’s work on precious metals markets collates all three published FMSB Spotlight Reviews on these markets into one document, Compendium: Precious Metals Markets Evolution. The compendium includes forewords from the World Gold Council’s CEO,…
Financial Markets Standards Board (“FMSB”) research looks at the current practice of 24 major financial firms around management information on the subject of conduct and culture. The extensive research published in a Spotlight Review was assisted by…
A FMSB Statement of Good Practice Transparency Draft today sets out the view of market practitioners and invites comment on how the wholesale markets industry can apply their existing model risk management frameworks in a proportionate way…
Financial Markets Standards Board (“FMSB”) brought together precious metals trading experts to consider the steps that the gold market needs to take to support the asset’s characterisation as a High-Quality Liquid Asset (HQLA)…
Financial Markets Standards Board (“FMSB”) Members representing communities active in global wholesale financial markets review the 3 Lines Model. FMSB issues a Spotlight Review and Risk Register for practical application and benchmarking. The aim is to assist…
Infrastructure and data are vital next steps in the evolution of Voluntary Carbon marketsMarket design is a critical concept as the Voluntary Carbon Markets expandOverview highlights gaps in the current markets’ ecosystem 29 September 2022 – The…
This Spotlight Review seeks to facilitate greater transparency of ESG ratings methodologies and data collection processes to enhance understanding of ESG ratings and facilitate comparability across ratings providers in wholesale financial markets.
New guidance draws extensively from existing European and UK regulatory requirements and initiatives. Experts from across the global financial markets reach consensus on how trading platforms should disclose information. Statement of Good Practice to benefit participants both…
Global financial markets practitioners examine post-trade from their perspective in a review covering lessons from other asset classes and technological solutions. Considerations include increasing adoption of automation for trade confirmations, increasing the take-up of bilateral netting agreements,…
Updated research shows historical forms of misconduct which have been present in the financial markets for hundreds of years, are playing out in new digital asset classes, including crypto assets and nonfungible tokens.
1 March 2022 – The FICC Markets Standards Board (“FMSB”) today publishes the final Standard for the Conduct of Participants in LBMA Precious Metal Auctions.LBMA Auctions establish prices in certain precious metals that are used as benchmark…
15 February 2022 – The FICC Markets Standards Board (“FMSB”) today publishes the final Standard for the sharing of investor allocation information in the fixed income primary markets. Syndicate banks historically have had varied approaches to the…
FMSB publishes Spotlight Review on precious metals market structure 18 November 2021 – The FICC Markets Standards Board (FMSB) has today published a Spotlight Review examining the existing structure of the precious metals market. This Spotlight Review examines practices adopted…
FMSB publishes Spotlight Review on examining hybrid working risks in FICC markets 30 September 2021 – The FICC Markets Standards Board (FMSB) has today published a Spotlight Review which examines hybrid working risks in FICC markets. The flexible working practices that have emerged following the onset of…
28 July 2021 – The FICC Markets Standards Board (“FMSB”) today publishes the finalised Standard on use of Term SONIA reference rates. The Standard was initially published as a Transparency Draft on 24 March 2021. Since its…
6 May 2021 – The FICC Markets Standards Board (“FMSB”) today publishes a final Standard setting out expected behaviours for the execution of Large Trades by participants in FICC markets. Large Trades – transactions that are greater than the available liquidity prevailing in the market – can…
20 April 2021 – The FICC Markets Standards Board (“FMSB”) has today published a new Spotlight Review on LIBOR transition, looking at how market participants may manage potential conduct risks arising in back book transition. This Spotlight…
24 March 2021 – The FICC Markets Standards Board (“FMSB”) today publishes a Transparency Draft of a new Standard on use of Term SONIA reference rates.
7 September 2020 – The FICC Markets Standards Board (FMSB) has today published a Spotlight Review looking at the challenges in measuring quality of trade execution and how this varies across different market participants and segments. While not a new concept, in the last four years there has been a…
3 August 2020 – The FICC Markets Standards Board (FMSB) has today published a Spotlight Review looking at current and future challenges that FICC market participants face in market surveillance. This Spotlight Review outlines: factors driving the…
27 July 2020 – The FICC Markets Standards Board (FMSB) has today published a Spotlight Review which examines remote working risks in FICC markets. Following COVID-19 being declared a global pandemic and the closure of many offices,…
24 June 2020 – The FICC Markets Standards Board (FMSB) published a new Statement of Good Practice on Algorithmic Trading in FICC Markets as a transparency draft for market consultation. As the use of computer algorithms in…
11th May 2020 – The FICC Markets Standards Board (FMSB) has today published its second Spotlight Review examining the crucial role of data management in the stability and resilience of wholesale FICC markets and financial systems. The…
23rd April 2020 – The FICC Markets Standards Board (FMSB) has today published its first Spotlight Review, looking at emerging themes and challenges in algorithmic trading and machine learning. This Spotlight Review highlights important emerging issues in…
2 December 2019: The FICC Markets Standards Board (FMSB) today issued a Transparency Draft of a new Statement of Good Practice for Participation in Sovereign and Supranational Auctions (‘SSAs’) in Fixed Income Markets. A common way for…
14 October 2019: The FICC Markets Standards Board (FMSB) has today published the final version of a Statement of Good Practice on the issue of Conflicts of Interest. This Statement of Good Practice aims to provide practical,…
3 October 2019 – The FICC Markets Standards Board (“FMSB”) has today published the final version of a Statement of Good Practice on the issue of Information & Confidentiality. This Statement of Good Practice seeks to bring…
London, 20 June 2019 – The FICC Markets Standards Board (“FMSB”) today publishes a Transparency Draft of a new Statement of Good Practice on Conflicts of Interest. The primary aim of this Statement of Good Practice is…
London, 28 January 2019 – The FICC Markets Standards Board (“FMSB”) has today published the final version of its Standard on Secondary Market Trading Error Compensation under its remit to improve conduct and raise standards in the…
London, 15 January 2019 – The FICC Markets Standards Board (“FMSB”) has today published the final version of its Statement of Good Practice on Suspicious Transaction and Order Reporting under its remit to improve conduct and raise…
BCA Database
London, 27 July 2018 – The FICC Markets Standards Board (“FMSB”) today publishes its Behavioural Cluster Analysis (“BCA”) study. This is a unique piece of research that has reviewed the behavioural patterns in 390 cases of misconduct…
London, 11 July 2018 – The FICC Markets Standards Board (“FMSB”) today publishes a Transparency Draft of a new Statement of Good Practice on Algorithmic Trading in FICC Markets. The use of computer algorithms to facilitate trading…
London, 3 July 2018 – The FICC Markets Standard Board (FMSB) has today issued its Standard on Risk Management Transactions for New Issuance. The Standard sets out several core principles relevant to risk management transactions connected with…
London, 1 June 2018 – The FICC Markets Standards Board (“FMSB”) today publishes a Transparency Draft of a new Statement of Good Practice on Information and Confidentiality for fixed income and commodities markets. The question of what…
London, 4 May 2018 – The FICC Markets Standards Board (“FMSB”) today publishes a Transparency Draft of a new Statement of Good Practice on Suspicious Transaction and Order Reporting. This Statement of Good Practice covers the identification…
London, 20 March 2018 – The FICC Markets Standards Board (“FMSB”) today publishes its Transparency Draft Standard on Secondary Market Trading Error Compensation. The Standard deals with the issues concerning how compensation should be paid following a…
London, 25 October 2017 – The FICC Markets Standards Board (“FMSB”) today publishes its Transparency Draft of the Risk Management Transactions for New Issuance Standard for the Fixed Income markets. The Standard sets out several core principles…
The FICC Markets Standard Board (FMSB) has today issued two new sets of Statements of Good Practice as part of its work to improve standards in the wholesale Fixed Income, Commodity and Currency (“FICC”) markets. These documents…
London, 8 December 2016. Using automated voice surveillance systems and surveillance techniques involving Natural Language Processing are among the emerging practices being used to combat the risk of insider dealing and market manipulation, according to new guidelines…
London, 18 November 2016. Banks should be more transparent about their allocation policies and investors should make sure their orders are a true representation of their demand, according to a proposed new standard on corporate and other debt issues…
London, 18 November 2016. The FICC Markets Standards Board (“FMSB”) has today published its third standard aimed at improving conduct in the wholesale Fixed Income, Currency and Commodities (“FICC”) markets. The standard, which is being published as a transparency draft…
London, 22 July 2016. The FICC Markets Standards Board (“FMSB”) has today published its second standard aimed at improving conduct in the wholesale Fixed Income, Currency and Commodities (“FICC”) markets. The standard, which is being issued in…
London, 22 July 2016. The FICC Markets Standards Board (“FMSB”) has today published its second standard aimed at improving conduct in the wholesale Fixed Income, Currency and Commodities (“FICC”) markets. The standard, which is being issued in draft form…
London, 30 June 2016. The FICC Markets Standards Board (“FMSB”) has today published its first standard aimed at improving conduct in the wholesale Fixed Income, Currency and Commodities (“FICC”) markets. The standard, which is being issued in…
London, 30 June 2016. The FICC Markets Standards Board (“FMSB”) has today published its first standard aimed at improving conduct in the wholesale Fixed Income, Currency and Commodities (“FICC”) markets. The standard, which is being issued in…
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