Britain eyes shake-up in financial data market

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Britain wants to ensure the City of London remains globally competitive after being largely cut off from the European Union since the Brexit transition period ended a year ago.

The UK has signalled a shake-up in the availability and price of financial market data due to concerns over "limited competition" for benchmarks, indices and credit ratings.

The Financial Conduct Authority said a first study, which will start this summer, will look into concerns that complex contracts for benchmarks and indices prevent switching to cheaper, better quality and more innovative alternative providers. "By the end of the year, the FCA will launch a second market study to assess whether high charges for access to credit ratings data is adding costs to investors and limiting new market entrants," the FCA said.

The FCA said it will also begin gathering further information on competition in the market for wholesale trading data.

 

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