Industry unites against FSA's benchmark pricing proposal for MiFID

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As next year's deadline for implementation of the Markets in Financial Instruments Directive (MiFID) approaches in Europe, market participants are up in arms over one key issue that is still unresolved.

A suggestion from UK regulator, the Financial Services Authority, to use benchmark prices in dealer-led markets to demonstrate best execution has proved so unpopular that one industry group - the Futures and Options Association - commissioned a report from consultancy KPMG to summarise the ind

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