UK: FICC Markets Standards Board publishes reference price transactions standard

The FICC Markets Standards Board has published for comment a standard - its first - covering reference price transactions (RPTs) in the fixed income rates markets: see here (pdf). The standard contains eight core principles, the first of which provides that "[the] possible conflicts of interest inherent to RPTs should be managed by Dealers in a way that promotes the fair treatment of Clients and other market participants".