FCA consults on SI regime for bonds and derivatives

The FCA is consulting on the future of the SI regime for bonds and derivatives in light to the removal of pre-trade transparency from their obligations. It wants to put new rules in place at the end of the year so it can ensure continued alignment between the transparency and SI regimes.

The FCA also proposes to deliver on 2 of its commitments in the Wholesale Markets Review:

• removing the ban on matched principal trading by firms operating an MTF; and
• changes to reference price waiver rules to give trading venues more flaxibility.

While the consultation does not cover equity markets, the FCA is also using the opportunity to open discussion about them before it consults next year.

It asks for comments by 10 September.