FCA warns buying and selling venues concerning submission of knowledge for spot FX

The UK Monetary Conduct Authority (FCA) at the moment posted the most recent version of Market Watch.

The regulator notes that it has recognized buying and selling venues submitting instrument reference information for spot FX devices.

Spot FX just isn’t a monetary instrument beneath the UK MiFID framework. The submission of reference information for spot FX devices can subsequently mislead funding corporations as to the scope of their reporting obligations. This consists of the place they’re traded as a part of a fancy commerce or technique.

The regulator warns that buying and selling venues ought to guarantee reference information just isn’t submitted to the FCA for devices that aren’t MiFID monetary devices.