Written on: 18 March 2019

London, 18 March 2019 – The FICC Markets Standards Board (FMSB) announces that it has appointed Edward Ocampo and Michael Cole-Fontayn as new non-executive directors.

Edward Ocampo is an Advisory Director at Quantile Technologies, which provides portfolio risk management services for derivatives markets.  Prior to joining Quantile Technologies, he spent four years as a Senior Advisor at the Bank of England where he led work to develop and promote alternatives to Libor.  He also contributed to the Fair and Effective Markets Review, which called for the creation of the FMSB.  He joined the Bank of England from Morgan Stanley in London, where he was a Managing Director and held several senior roles over a 24-year career.

Michael Cole-Fontayn is the Chair of the Association for Financial Markets in Europe (AFME) and Chair of the Chartered Institute for Securities and Investment (CISI). AFME is the trade association for leading global and European banks and other significant capital market participants and CISI is the largest professional body for the securities and investment profession in the UK.

Michael was previously EMEA Chair of BNY Mellon, responsible for governance, culture and strategy development across the region. Before taking up the EMEA Chair of BNY Mellon, he spent 25 years in various roles at both BNY Mellon and Bank of New York in London, Hong Kong and New York.

Mark Yallop, Chairman of FMSB said: “I’m delighted to welcome Edward and Michael as new non-executive directors of FMSB – they both bring significant knowledge and experience of wholesale markets around the world. Along with the rest of the board, Edward and Michael will play a vital role in the overall governance and direction of FMSB in the coming months and years under our remit of enhancing standards of behaviour in the wholesale FICC markets.”

Edward and Michael join as non-executive directors alongside Chairman, Mark Yallop and existing non-executives Charles Nichols and Stephen O’Connor.

Media contacts


Andy Donald

+44 207 379 5151


Notes to Editors

1) The Fixed Income, Currency and Commodities (“FICC”) Markets Standards Board (“FMSB”) is an independent body set up by market practitioners to improve standards of conduct in wholesale FICC markets. It aims to bring transparency to grey areas in the wholesale FICC markets by identifying emerging vulnerabilities, clarifying and documenting practice and agreeing standards to improve conduct and market behaviour. Ensuring that wholesale FICC markets are transparent, fair and effective is at the heart of the FMSB’s mission.

2) Setting up the FMSB was one of the main recommendations to emerge from the Fair and Effective Markets Review (“FEMR”), which was conducted by HM Treasury, the Bank of England and the Financial Conduct Authority.

3) The FMSB has a Board drawn from senior executives from across wholesale markets, from corporate clients, asset managers, sell side participants and intermediaries and infrastructure providers such as exchanges and custodians. Reporting to the Standards Board are standing sub-committees addressing Market Practices, Codes & Standards Convergence, Conduct & Ethics and Electronic Trading and Technology. The Market Practices sub-committees are split into 4 asset-class specific committees. There is also an Advisory Council representing the interests of member firms.


4) The FMSB’s members bring together sell-side investment banks, buyside asset managers, market infrastructure providers and exchanges, custodians and users of the market such as corporates. This constitution is unique. The member firms are:

  • Australia and New Zealand Banking Group
  • BAE Systems
  • Bank of America Merrill Lynch
  • Barclays
  • BHP
  • BlackRock
  • Bloomberg
  • BNP Paribas
  • BNY Mellon
  • BP
  • Citadel Securities
  • Citigroup Global Markets Limited
  • Crédit Agricole CIB
  • Credit Suisse
  • Deutsche Bank
  • FastMatch
  • Goldman Sachs
  • HSBC
  • Invesco
  • J.P. Morgan
  • Legal & General Investment Management
  • Linklaters (Legal Advisor)
  • Lloyds Banking Group
  • London Stock Exchange Group
  • M&G Investments
  • MarketAxess
  • Morgan Stanley & Co. International plc
  • National Australia Bank
  • NEX Group PLC
  • Nomura
  • RBS
  • Refinitiv
  • Rio Tinto
  • Royal Bank of Canada
  • Royal Dutch Shell
  • Royal Mail Group
  • Société Générale
  • Standard Chartered
  • Standard Life Aberdeen
  • Tradeweb
  • Tradition
  • UBS
  • Vodafone
  • XTX Markets


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