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Articles tagged by FICC Market Standards Board

FMSB Annual Report Highlights Progress made in FICC Reform The UK’s FICC Markets Standard Board (FMSB) has issued its 2017 Annual Report setting out the progress it has made to enhance standards of behaviour in the wholesale fixed income, currencies and commodities markets. FMSB was established in 2015 following the recommendations of the Fair and Effective Markets Review (FEMR), which was conducted by the Bank of England, the UK Treasury and the UK’s Financial Conduct Authority. FMSB says it has achieved “significant momentum and has received strong support from market participants and public authorities”.
FMSB Details Trading Error Compensation Standard The FICC Markets Standards Board, which was set up in 2015 in response to the UK’s Fair and Effective Markets Review with a mandate to issue Standards designed to improve conduct and raise standards in the wholesale Fixed Income, Commodity and Currency markets, has published its Transparency Draft Standard on Secondary Market Trading Error Compensation. The Standard deals with the issues concerning how compensation should be paid following a trading error, although it does not address the circumstances in which the error might arise, how the risks of such circumstances might be mitigated, the reasons why a party may compensate another party, or the desirability or magnitude of compensation.
FMSB Seeks Feedback on Information Sharing Guidance The FICC Markets Standards Board (FMSB) has published a Transparency Draft of a new Statement of Good Practice on Information and Confidentiality for fixed income and commodities markets. The FMSB says the proposed guidance is not intended to apply to the FX markets, which is covered by the FX Global Code, or to the precious metals markets, which is covered by the Precious Metals Code, rather it seeks to build on those works for the fixed income and commodities markets.