Written on: 15 December 2021

15 December 2021, Plato Partnership and FMSB have today announced an agreement to co-operate on Fixed Income, Currencies and Commodities (“FICC”) academic research via Plato’s Market Structure Academic Research programme (“MI3”).

Launched in September 2019, the Plato MI3 division is integral to Plato Partnership’s vision. One of the strategic goals of the Plato academic division is to produce independent research and analytics, open to peer review in order to collaborate to build a better financial ecosystem. Plato believes that this critical research will stimulate debate around the future of market structure design and allow regulators and market practitioners to make better informed decisions.

To date, the MI3 division has successfully commissioned several important academic reports focused on key strategic equities market structure topics, which has led to many conversations with policy makers.

This strategic agreement with FMSB will allow the MI3 division to become multi-asset class, which in turn will benefit the global capital markets.

Mike Bellaro, CEO, Plato Partnership said: “I am delighted to collaborate with FMSB to build on our work in the MI3 academic division. Since we launched MI3 in 2019, we have worked with leading, highly regarded academics worldwide and produced strong, credible reports with the aim of creating a better marketplace and bringing together market practitioners and academics. This partnership will help to drive our vision of being a multi-asset class academic research division.” 

Carole Comerton-Forde, Academic Advisor said: “As the Plato academic advisor, it is great to see the MI3 expand into other asset classes with FMSB and strengthen this division. I look forward to working together in 2022.”

Myles McGuinness, CEO, FMSB said: “I am very pleased that we have agreed a framework for future cooperation with Plato. FMSB will greatly benefit from leveraging an established independent research network that will deliver unbiased material on topics of importance to our membership and stakeholders, and which may underpin future FMSB work. Our two organisations share many common goals, and we hope our collaboration and sharing of best practice will ultimately benefit the wider market.”


Anita Karppi

Executive Team

Plato Partnership  

+44 203 411 3996

Freddie Barber


+44 207 379 5151



Plato Partnership:  Launched in 2017, the Plato Partnership is a not-for-profit company comprising asset managers and broker dealers who are collaborating to bring creative solutions and efficiencies to today’s complex equity market place.

FMSB: Launched in 2015, FMSB is the standards setting body for wholesale FICC markets. FMSB was created out of the Fair and Effective Markets Review (FEMR) and comprises members from buy-side, sell side, corporate issuer and infrastructure provider organisations, and aims to develop standards and statements of good practice to raise the standards of behaviour, competence and awareness to promote the fairness and effectiveness of wholesale markets.

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