Startups
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.
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.
Overview
Location
United Kingdom, England, City of London
Employees
1-10
Founded date
2015
Mentions in press and media 4
| Date | Title | Description |
| Sign up to see | Sign up to see | Sign up to see |
| Aug 11, 2025 | How much financial wrongdoing is acceptable in the UK’s pursuit of growth? | If the government wants to loosen financial regulations, it must also be prepared to answer just how much wrongdoing is it prepared to accept in the pursuit of growth, writes Lucy McNulty, editor of Following the Rules, in today’s Notebook ... |
| Nov 9, 2021 | FICC Markets Standards Board, Bank of England and Financial Conduct Authority agree Memorandum of Understanding | The FICC Markets Standards Board (FMSB), Bank of England (the Bank) and Financial Conduct Authority (FCA) have today announced signing a tri-party Memorandum of Understanding (MoU). The MoU sets out a high-level framework formalising the co... |
| May 11, 2021 | Descending safely: Life after Libor - speech by Andrew Bailey | Published on 11 May 2021 Andrew Bailey talks about the move away from the use of Libor. He says using robust overnight risk-free rates will help to create a more resilient and transparent financial system. Speech Many thanks to Tom [Wipf] a... |
Reviews 0
FAQ about FICC Markets Standards Board (FMSB)
When was FICC Markets Standards Board (FMSB) founded?
FICC Markets Standards Board (FMSB) was founded in 2015.
What has the press written about FICC Markets Standards Board (FMSB)?
Parsers VC has collected 4 articles mentioning FICC Markets Standards Board (FMSB), among them “How much financial wrongdoing is acceptable in the UK’s pursuit of growth?” (Aug 11, 2025) and “FICC Markets Standards Board, Bank of England and Financial Conduct Authority agree Memorandum of Understanding” (Nov 9, 2021).
Is FICC Markets Standards Board (FMSB) still active?
Yes, FICC Markets Standards Board (FMSB) is active; its latest activity on Parsers VC dates from Oct 7, 2026.