FCA advances UK equity market transparency reform package

The FCA published reforms confirming a future equity consolidated tape framework, consulting on market structure changes, and introducing an interim market activity reporting tool.

The FCA's reform package restructures UK equity market transparency, moving toward a consolidated tape and revised market structure. Firms operating in UK equity trading must prepare data, reporting and best execution frameworks for the new regime.

Alters transparency, data-access and reporting obligations across UK equity trading venues and market participants, with implications for execution quality and MiFID-aligned obligations.

Structural reform of UK equity markets directly affects trading, reporting and transparency obligations of broker-dealers and asset managers.

“The FCA has published a package of reforms designed to improve transparency, strengthen access to market-wide information and support confidence in UK equity markets, confirming the framework for a future equity consolidated tape and consulting on targeted market structure reforms.”