On 8 May 2025, the Financial Conduct Authority (FCA) published the results of the annual UK MiFID transparency calculations for bonds, which will apply from 1 June 2025.

The calculations made available include:

  • the pre- and post-trade size specific to the instrument threshold; and
  • the pre- and post-trade large in scale threshold.

The FCA plans to publish information on the next annual calculations for non-equity instruments other than bonds in due course.

The transparency results for non-equity instruments are applicable from 1 June 2025 until 30 November 2025, when the new regime for non-equities transparency will enter into force.