FIA EPTA is appreciative to the FCA for taking the lead in designing an improved post-trade transparency regime which should benefit the efficiency and competitiveness of UK capital markets. FIA EPTA members found broad support for the FCA’s proposals and found them to be mostly welcome enhancements to the current approach to post-trade transparency. We believe that the targeted calibrations to the FCA’s proposals that we suggest in our response will help ensure that the regime is effective and fit for purpose. In that regard, we emphasise the need for an appropriate lead-time for firms to implement the new regime. Furthermore, as these improvements would lead to differences regarding the applicable post-trade transparency regimes in the wider European trading region, such lead-time will also allow market participants to advocate for corresponding changes to the relevant EU regime.
