FIA welcomes the Financial Conduct Authority’s proposals regarding the revised bond and derivative transparency regime in the UK. Resilient and robust markets are of key importance to FIA members and FIA supports the consultation’s stated aim of streamlining transparency requirements so that they better reflect the nature and depth of liquidity in the market.
FIA supports removing some of the complexities in today’s transparency regime, which has a wide scope in instruments and a complex system of deferrals and waivers, by introducing transparency requirements that support price formation and open, competitive, and fair markets.
FIA also supports a reversion to trading venues calculating the transparency requirements for exchange-traded derivatives and their own thresholds as this allows the limits to be made according to the requirements of the relevant market.
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