fmsb.com Revenue and Competitors

The Fair and Effective Markets Review (FEMR) was undertaken by HM Treasury, the Bank of England, and the Financial Conduct Authority (FCA) as a result of serious concerns about poor market practice in fixed income, currencies and commodities (FICC) markets. FEMR recommended the creation of a new body (FMSB) with participation at the most senior levels from a broad cross-section of global and domestic market participants and end-users to fill the need for clear, practical guidance for market practitioners as to how they should operate in the best interests of their clients. FMSB is practitioner led, funded by our members who are major participants in, and active international users of, wholesale FICC markets. They include corporate issuers, asset managers, exchanges, custodians and intermediaries, commercial and investment banks, and the firms that provide the infrastructure for markets to operate, such as data providers, trading venues, exchanges and other platforms. We bring together a unique breadth of market participants to identify how more transparent, fair and effective FICC markets can be created. In specialist, focused committees, sub-committees and working groups, industry experts debate issues and develop FMSB Standards and Statements of Good Practice, and undertake Spotlight Reviews that are made available to the global community of FICC regulatory authorities and market participants. As a private sector, practitioner-led body with no formal or statutory powers, FMSB does not have an oversight or enforcement role, and does not undertake any lobbying activities, or provide responses to policy consultations. FMSB Standards, Statements of Good Practice, and Spotlight Reviews are made available to all on our website.