FCA provisionally opts not to involve CMA in wholesale data market review

Four respondents seek CMA involvement

The Financial Conduct Authority has provisionally opted not to make a market investigation reference (MIR) to the Competition and Markets Authority for any of the three markets it is reviewing as part of its wholesale data market study.

In an update published today (31 August), the FCA revealed four respondents had sought for the regulator to make an MIR in relation to the benchmarks, credit ratings data and market data vendor (MDV) services industries. FCA launches study to assess uncompetitive data markets These were German investment funds association BVI, UK financial markets data users association Information Providers User Group, a benchmarks provider and a financial data services consultancy firm. Benchmarks The respondents sought the MIR for benchmarks firms due to the consolidation of the market around ...