FCA consults on improvements to equity secondary markets

FCA has published a consultation paper outlining its proposals to improve the functioning of UK equity secondary markets.

The changes form part of the Wholesale Markets Review and would be designed to:

• improve the content and consistency of post-trade transparency reports;
• establish a new designated reporter status for over-the-counter trades;
• allow UK trading venues to use reference prices from overseas markets where those prices are robust, reliable, and transparent; and
• permit the use of the tick size regime from overseas primary markets.

The consultation closes on 16 September 2022.