ECB encourages comments on CPSS-IOSCO consultation on principles for financial market infrastructures
The Committee on Payment and Settlement Systems (CPSS) and the Technical Committee of the International Organization of Securities Commission (IOSCO) are requesting comments on the consultative report entitled ‘Principles for financial market infrastructures’ released on 10 March 2011.
Building on the existing sets of CPSS and IOSCO standards for payment, clearing and settlement systems, the report proposes updated and more demanding requirements as well as new principles for systemically important payment systems, central securities depositories, securities settlement systems, central counterparties and trade repositories. These principles, once finalised, will replace the existing standards. A single set of standards will provide greater consistency in the oversight and regulation of financial market infrastructures worldwide.
The ECB, as a member of the CPSS, encourages interested parties to comment on the consultative report and particularly on the points raised in the cover note to the report.
The consultative report is available on the BIS website. Comments should be submitted by 29 July 2011 to both firstname.lastname@example.org and email@example.com.