IBFed responds to CPSS-IOSCO consultative report on “Principles for FMIs” - 29/07/11

29 Jul 2011

IBFed has responded to the CPSS-IOSCO consultative report from the perspective of participants in financial market infrastructures (FMIs). Whilst IBFed is generally supportive of the IOSCO-CPSS public policy objectives and their Principles, we expressed concerns about the complexity resulting from the possible co-existence of differing regulatory frameworks applicable to FMIs. We also stressed the applicability of  the principles should be determined by the functions and responsibilities of FMI, and underscored the need to embark on as broad and thorough a reflection as possible to consider the overall impact that the implementation of the CPSS-IOSCO proposals may have on the levels of market liquidity.
The IBFed response is available here.