The Financial Markets Standards Board (FMSB) has signed a Memorandum of Understanding (MoU) with the United Kingdom Debt Management Office (DMO), formalising cooperation and a shared focus on fair and effective wholesale markets. The DMO framed the agreement as reinforcing its emphasis on high standards across the gilt, Treasury bill and broader sterling markets. The MoU is positioned as reflecting an existing close working relationship between the two organisations. FMSB described itself as a global, member-driven standards body that develops Standards and Statements of Good Practice for wholesale markets, while the DMO is an executive agency of HM Treasury responsible for debt and cash management for the UK Government; FMSB also noted it is marking its tenth year since being established following the Fair and Effective Markets Review in 2015. The MoU has been published on FMSB’s website under its regulatory engagement materials.
Financial Markets Standards Board 2025-09-22
United Kingdom's Financial Markets Standards Board and the United Kingdom Debt Management Office sign Memorandum of Understanding on wholesale market standards
The Financial Markets Standards Board signed a Memorandum of Understanding with the United Kingdom Debt Management Office to formalize cooperation and focus on maintaining high standards in wholesale markets, including gilt and Treasury bill markets. This agreement underscores their existing relationship and aligns with FMSB's role in developing global standards for wholesale markets.