FCA unveils equity secondary markets reforms

The move is part of the Wholesale Market Review, which the FCA has undertaken alongside the UK government. The changes will tailor rules to "better suit UK markets and to promote competition and growth", the FCA said. The reforms will include: Lower costs of trading to reduce market impact and increase liquidity; Greater post-trade transparency for equities; Simplified reporting of transactions executed over the counter for all financial instruments; Allowing UK trading venues to reference prices from overseas trading venues; and The removal of restrictions on trading ven...