1 / 5

The development of the market infrastructure for payment and securities handling

The development of the market infrastructure for payment and securities handling. Ramzi Hamadeh Group 2. Frankfurt am Main, 02.09.05. Market infrastructure. Is a set of systems, processing instruments, networks (i.e. CSDs, RTGS…)

dieter
Download Presentation

The development of the market infrastructure for payment and securities handling

An Image/Link below is provided (as is) to download presentation Download Policy: Content on the Website is provided to you AS IS for your information and personal use and may not be sold / licensed / shared on other websites without getting consent from its author. Content is provided to you AS IS for your information and personal use only. Download presentation by click this link. While downloading, if for some reason you are not able to download a presentation, the publisher may have deleted the file from their server. During download, if you can't get a presentation, the file might be deleted by the publisher.

E N D

Presentation Transcript

  1. The development of the market infrastructure for payment and securities handling Ramzi Hamadeh Group 2 Frankfurt am Main, 02.09.05

  2. Market infrastructure • Is a set of systems, processing instruments, networks (i.e. CSDs, RTGS…) • Perimeter can be variable according to the organisation of the market (would some major market participants be part of the market infrastructure, for instance custodians, clearing members…)

  3. Objectives: Security, safety and efficiency Resiliency Coherence of the entire infrastructure General principles Reaction to market failures Meet the market needs Neutrality in terms of competition Risk management Issues To ensure conducive legal framework Customer awareness Objectives, general principles and issues

  4. Operator Implementing international standards (e.g. core principles for SIPS) Overseer Analysis on the stability of the infrastructure Assessment against international principles / standards Regulator Focus on payments as primary regulator Enforce regulation Facilitator Communication policy to market participants Role of the central banks

  5. Issues Cooperative regulatory framework for securities International cooperative framework Transparency of central banks’ actions Separation of oversight / operator functions within central banks Cost / benefit analysis (pricing) May central banks operate all or some parts of the systems? Role of the central banks

More Related