Last week the UK’s Financial Conduct Authority(FCA) released this Call for Input(CFI) on “Accessing and using wholesale data”. The CFI covers:
- Trading data
- Benchmarks
- Market data vendor services
The CFI examines many issues including the pricing and availability of trade and order data across different venue types, which could for example be used as part of surveillance systems implementation. It also examines the use of market data as in input to machine learning.
This article on the Lexology web site by Rob Moulton of Latham & Watkins LLP summarises the paper and observes that the CFI could result in some divergence by the UK from the EU after the Brexit implementation period.
The deadline for responses has been extended to October 2020 alongside other several FCA consultations and CFIs due to the Corona virus outbreak (see here).