Consultation opens
26/07/2024
26/07/2024
Consultation closes
30/09/2024
This consultation includes proposals on three distinct but interconnected aspects of the derivatives trading obligation (DTO).
This consultation supports our commitment to strengthen the UK’s position in wholesale markets, as outlined in our Business Plan.
Our proposals aim to improve the UK’s regulation of secondary markets, reduce systemic risk in derivatives markets and avoid fragmentation and disruption for firms trading over-the-counter (OTC) derivatives subject to the DTO.
This consultation will primarily be of interest to:
Our proposals will also interest Approved Publication Arrangements (APAs), central counterparties (CCPs), law firms, consultancies and their related trade associations.
We are asking for comments on this Consultation Paper (CP) by 30 September 2024.
You can send them to us using the form, alternatively email [email protected].
Or in writing to:
Darine Alkoblawi
Financial Conduct Authority
12 Endeavour Square
London E20 1JN
This CP is part of the Wholesale Markets Review (WMR) we have been conducting alongside the Treasury since 2021.
The Financial Services and Markets Act 2023 (FSMA 2023) amended parts of UK MiFIR (onshored Regulation (EU) on Markets in Financial Instruments Regulation, to give us the necessary powers to deliver the reforms set out in the WMR.