The UK’s Financial Conduct Authority (FCA) has published an update to the country’s transparency calculations under the Markets in Financial Instruments Directive (MiFID). The latest annual transparency calculations for bonds covers the pre- and post-trade size specific to the instrument threshold, and the pre- and post-trade large in scale threshold.
The new calculations will be applicable from 1 June 2025 until 30 November 2025, when the new regime for non-equity instruments enter into force. More annual calculations will follow “in due course”, for non-equity instruments other than bonds.
