This Statement of Good Practice draws on the extensive work conducted by regulators to date and seeks to further enhance the integrity and effective functioning of FICC markets by promoting good conduct and governance practices for participants engaged in algorithmic trading across all FICC asset classes and markets, in particular those subject to less stringent regulatory requirements. It sets out 10 Good Practice Statements which cover the governance of, and management of conduct risks associated with, the use of algorithmic trading.
FMSB members and other interested parties are invited to comment on the proposed Statement of Good Practice. The consultation period closed on Friday 21 August 2020 with the final document expected to be published shortly thereafter.
FMSB also issued a press release.