2022-07-04

Added · Updated

PS23/4: Improving Equity Secondary Markets

The FCA introduces a new designated reporter regime (DRR) for post-trade transparency, which enters into force in April 2024, and applies immediate changes to pre-trade transparency waivers and the tick size regime. Trading venues are authorized to derive reference prices from non-UK venues, calibrate order management facility waiver thresholds, and adopt the minimum tick size of overseas primary markets. The regulator also establishes a task force via the Secondary Markets Advisory Committee to develop good practices for market resilience during outages.

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