ICMA responds to HM Treasury Wholesale Markets Review
24 September 2021 ICMA has now published its response to the HM Treasury Wholesale Markets Review Consultation Paper. The response was drafted primarily by ICMA’s MiFID II transparency taskforce but a few responses also take into account the views of ICMA’s other working groups and committees, such as repo and primary markets.
The ICMA MiFID II transparency taskforce member response is based on consensus view from a varied group of buy- side and sell-side investment firm bond trading participants, representing EU 27 countries, the UK and the US. There is a unique value in conveying a broad view from across buy-side and sell-side communities and we hope this response is informative and useful. Taskforce members welcome the efforts of HMT to seek out stakeholder views concerning a review of wholesale markets. However, this response is related solely to cash bonds.