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 draft form for comment, covers reference price transactions in the fixed income rates markets.
Fixed Income reference price transactions, involve agreeing all aspects of a transaction except price which is set later based on a pre-agreed reference price.
The FMSB is issuing the standard in draft form to provide an opportunity for public comment ahead of final ratification and issuance.
The FMSB is seeking comment from interested parties on the new standard over the summer.
Submissions should be sent to standards@fmsb.com by midday (12:00pm BST), Thursday 8th September, 2016.
A final version of the standard will be published by the FMSB after evaluating public comments.
– ENDS –