The FCA investigation looked at market rivalry for benchmarks, market data vendor services, and credit rating data. Due to possible unintended implications, including those on the availability and quality of data in a market that is heavily depended upon by investors globally, it has excluded significant intervention.

But the FCA found places where competition is not effective in all three markets. Customers can be paying more for the data they purchase than they would if the competitors operated more efficiently.

As a result, the FCA has stated that it plans to pursue suggestions that will facilitate the fair, reasonable, and transparent availability of wholesale data. Its goal is to "repeal and replace" incorporated EU law, which includes this.
 

The FCA's executive director of consumers and competition, Sheldon Mills, stated: "A healthy wholesale financial market depends on the availability and integrity of wholesale data. According to our market research, businesses have access to the information they require to make wise investment choices.

"We don't think there's a justification for major actions undertaken. We will, however, look for ways to encourage the fair, reasonable, and transparent provision of wholesale data.

The report is a component of the FCA's efforts to support the UK's efforts to maintain its top spot as a thriving, international financial hub by fostering an environment that is conducive to investment, innovation, and long-term growth based on highly regarded international standards.
 

The Federal Trade Administration will persist in examining claims of anti-competitive behavior across all markets, encompassing wholesale data marketplaces. The Competition Act also gives the FCA the authority to address this.