The Economic Secretary to the Treasury appointed Professor David Miles at the start of 2016, to undertake an independent review into reference price provision for Gilts and Treasury bills. He has today (11 October 2016) published his final report and letter to the government, which finds that FTSE Russell and Tradeweb have put forward the strongest proposal for future reference price provision.
The Economic Secretary said:
I wish to thank Professor Miles for his work on this Review and his recommendation, which I support. I am confident that this outcome will best service the market and the public, and that we will see a smooth and successful transition process.
Please see the latest press notice on the Debt Management Office’s website for further details on the transition and next steps.