Occasional Paper No.25 - Updated Measurement of Market Cleanliness

In March 2006 the FSA published Occasional Paper No. 23 (OP23) which reported on work to develop a measure of market cleanliness in the UK financial markets. The measure of market cleanliness was based on the extent to which informed price movements are observed ahead of significant regulatory announcements made by issuers to the market.

The FSA has now published Occasional Paper No. 25, Updated Measurement of Market Cleanliness (OP25). OP25 extends the original analysis of the cleanliness of the UK financial markets that was set out in FSA Occasional Paper No. 23.