‘Holes’ in new UK regulatory net worry trading venues

Regulated venues say rival firms might unfairly escape oversight in activities such as blocking trades and price aggregation

Holes in FCA regulation

UK trading venues fear their supervisor isn’t going far enough in clamping down on investment firms and technology vendors performing venue-like activities but ducking the relevant rules.

A recent consultation by the Financial Conduct Authority could allow two ways for tech firms to provide trading services without needing authorisation. One is the practice of “blocking” trades, which involves a dealer arranging a transaction between two clients that is executed on a regulated venue. Another is

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