On December 1, 2014, the UK Financial Conduct Authority (“FCA”) published proposed guidance on MTF trade process requirements under the FCA’s rules. The proposed guidance consists of a Dear CEO letter and Good Practice Observations. The proposed guidance follows a FCA thematic review of MTF operators’ rulebooks to assess compliance with trade process requirements. The consultation closes on January 16, 2015.

The consultation paper is available at:

http://www.fca.org.uk/static/documents/guidance-consultations/gc14-09.pdf.