Bond dealers should be made responsible for ensuring that they do not rig prices against asset managers, according to a UK body set up in 2015 in the wake of market scandals to improve standards in thw wholesale fixed income, currency and commodity markets.

The FICC Markets Standards Board has invited comments on a proposed set of principles for market participants to prevent unfair price manipulation in the wholesale fixed income market. Consultation on the standard, the first proposed by the body since it was set up in 2015 in response to market-rigging scandals, closes on September 8.