CP13/16: Competition in the market for services provided by a Recognised Investment Exchange: proposed amendments to REC

Published: 18/11/2013     Last Modified: 15/01/2015

We are consulting on changes to our Recognised Investment Exchanges sourcebook (REC) to make it clear how we will take competition considerations into account when performing our particular functions as the supervisor of Recognised Investment Exchanges (RIEs) and Recognised Overseas Investment Exchanges (ROIEs). We want your views on our proposals.

Why are we consulting?

On 1 April 2013, we took over responsibility from the FSA for the supervision of trading infrastructure, and for the conduct of participants in OTC markets. The new rules and guidance on which we are consulting will strengthen our ability to advance our objective to promote effective competition in the interests of consumers, including in the markets for services provided by RIEs. An appropriate level of competition in the markets for services provided by trading infrastructures benefits market participants by fostering choice and encouraging innovation, while safeguarding against excessive fees or costs of trading.

Who is this consultation aimed at?

This CP will be of interest to RIEs and ROIEs, to users of their facilities and to those operating in the markets for exchange services.

Our proposals will be of interest to direct and indirect consumers of the services provided by RIEs and ROIEs, including issuers, investment firms and market end users.

Consultation paper 13/16

What are the next steps?

Online form

Please send us your comments by 31 January 2014. We will consider your feedback and publish our amended rules and guidance in a Policy Statement.

Want to find out more?

For more information see the REC sourcebook in our Handbook.

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