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FPL Corporate Governance

In 2005, FPL made changes to its legal structure introducing a special "Purpose Trust" owning the assets and enabling FPL to concentrate on the activity of promoting the adoption of the protocol and its development, without undue risk or exposure.

The trust deed defines the "purpose" and states that the protocol will remain "open" and available royalty free in perpetuity. It also seeks to establish the neutrality of the protocol and effectively formalizes the principles on which FIX Protocol has been based. It does all this, and at the same time gives new powers to the subscribers ("FPL members") to set the direction that the company and its officers shall follow. The existing and newly established legal entities continue to be resident in the UK and under the trust FPL will remain a not-for-profit enterprise.

/fpllegal

OVERVIEW

FPL Ownership Changes - 2005 (FPL_ownership_changes_20051116.pdf, 131KB)
Provides background on FPL's legal structure prior to changes introduced in 2005. Describes FPL's new legal structure including the provision of a special 'Purpose Trust'.
[16 November 2005]

FINANCIALS

Accounts - Period Ended 31 December 2004 (041231FPLaccounts.pdf, 80KB)
Report and Financial Statements for Period Ended 31 December 2004 from FPL's Auditors (BDO Stoy Hayward).
[31 December 2004]
Accounts - Period Ended 31 December 2005 (FPL31.12.05_FINAL_signed.pdf, 3.4MB)
Report and Financial Statements for Period Ended 31 December 2005 from FPL's Auditors (BDO Stoy Hayward)
[31 December 2005]
FPL Accounts - Period Ended 31 December 2006 (FPL 2006_final_signed.pdf, 3.4MB)
Report and Financial Statements for Period Ended 31 December 2006 from FPL's Auditors (BDO Stoy Hayward)
[31 December 2006]
FPTL Accounts - Period Ended 31 December 2006 (FPTL 2006_final_signed.pdf, 2.8MB)
Report and Financial Statements for Period Ended 31 December 2006 from FPL's Auditors (BDO Stoy Hayward)
[31 December 2006]

KEY DOCUMENTS

GSC Terms of Reference (2005) (Terms of Reference_v6.pdf, 170KB)
Terms of Reference (governing rules) for FPL's Global Steering Committee and the committees which roll up to the GSC.
GSC Terms of Reference (2007 revised) (GSC_Terms of Reference_20070925_clean.pdf, 48KB)
Amended GSC Terms of Reference (governing rules) to cover the elevation of the Exchanges & ECNs working group to committee level.
GSC Terms of Reference - Highlights (GSC Terms of Reference Highlights.pdf, 103KB)
Synopsis of key points from the GSC Terms of Reference document.
Trust Deed - Completed Deed (2005) (Copy of completed Trust Deed dated 5 October 2005_v1.PDF, 2.6MB)
Copy of Completed Trust Deed dated 5 Oct, 2005.