Another step towards consolidated trade data

8 June 2009

Responding to the Financial Services Authority's (FSA) latest publication of MarketWatch, which sets out guidance on OTC equity trade reporting, Guy Sears, Director of Wholesale at Investment Management Association (IMA), said:

"The IMA welcomes the publication of MarketWatch. Since the introduction of MiFID in 2007, the IMA has been concerned about the extent of double-counting in trade reporting and had called for an industry response.

The principles and guidance are set out in MarketWatch and are the result of productive collaboration on a group chaired by the FSA with representatives of the sell side and buy side and other market participants. They are designed to build upon the success of London as a place for doing OTC business by securing a material improvement in the quality of post-trade data.

IMA will continue to work with market participants to promote the seven criteria1 of data quality which we believe the equity markets need in order to secure better consolidation of post-trade data, which remains a key priority for many buyside dealers."

A copy of the FSA's MarketWatch can be viewed here.

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