ICMA has responded to the UK FCA’s Consultation Paper on the Trading Venue Perimeter
24 November 2022 ICMA considers all regulatory perimeter requirements, for large or small firms, should be flexible and principles based, in order to continue supporting innovation in the UK. This will make it easier for all trading participants to access UK bond markets, resulting in the removal of potential barriers to entry. Furthermore, streamlining authorisation, where feasible, to make authorisation for new entrants as quick as possible, will be less costly for relevant entities involved. This logic extends to new ventures in existing trading venues, thus levelling the playing field. This ‘streamlined authorisation’ will facilitate overall UK competitiveness and innovation.