FCA Appoints New Members to Secondary Markets Advisory Committee

The Financial Conduct Authority appointed members to its Secondary Markets Advisory Committee for the July 2026 to July 2028 term, increasing the committee from 25 to 27 members.

The FCA said the committee supports its work in wholesale secondary markets across equities, fixed income, foreign exchange, commodities, securities, futures, swaps and options. Its role is to help the regulator develop reforms that improve competition, consumer protection and market integrity, while also identifying market changes and risks that could affect orderly trading.

The new committee list includes representatives from exchanges, trading venues, market makers, asset managers, banks, infrastructure providers and policy specialists. Named organisations include London Metal Exchange, ICE Futures Europe, Aquis Exchange, London Stock Exchange Group, Cboe Europe, MarketAxess, Tradeweb, Jane Street, Optiver, Citadel, Bloomberg and OSTTRA.

The committee will be chaired by Jon Relleen, the FCA’s Director of Infrastructure and Exchanges.

Why it matters

Secondary-market policy influences the trading environment that brokers and active traders rely on, including venue access, transparency, best execution, market-data structure and derivatives-market oversight.

The membership mix matters because the committee gives the FCA structured input from firms that operate directly in equity, FX, commodities, futures, swaps and options markets.

What to watch next

Watch future FCA policy consultations and committee outputs for signs of where UK secondary-market reform is heading. Traders should pay particular attention to venue competition, transparency rules and any changes that affect execution quality.