Principles for Financial Market Infrastructures (PFMI)

Regulation & securityBy: Parsa Aghabarari2 min readSource: CPMI-IOSCO, 2012
Principles for Financial Market Infrastructures (PFMI)

1Introduction

Financial market infrastructures, such as systemically important payment systems, central securities depositories, securities settlement systems, central counterparties and trade repositories, are the arteries of the financial system. CPMI and IOSCO published the PFMI in April 2012.

2Discussion

Its 24 principles cover the legal basis, governance, credit and liquidity risk, settlement finality, operational risk, access and transparency, plus 5 responsibilities for central banks and regulators.

3Conclusion

Guidance on cyber resilience for FMIs was added in 2016. Countries building or assessing national payment systems typically use these principles as the benchmark.

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Sources

  1. BIS CPMI — Principles for financial market infrastructures (April 2012) ↗
  2. BIS CPMI — Guidance on cyber resilience for FMIs (2016) ↗
همفکران فناوری شریفThis article summarises the official sources cited, prepared by the Hamfekran Fanavari Sharif team for finance leaders.
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