Regulatory issues raised by changes in market structure
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IOSCO sets forth its final recommendations to assist market authorities in evaluating and monitoring changes in market structure associated with fragmentation. The recommendations refer to the following: monitoring the impact of fragmentation on market integrity and efficiency; monitoring the impact of fragmentation on trade information; monitoring the impact of fragmentation on order handling rules and best execution; monitoring the impact of fragmentation on access to liquidity; and monitoring the impact of fragmentation on market efficiency and resilience.