Moving forward with standardsfor payment, clearing and settlement
March 14, 2019

According to a recent update to the Level 1 information made available by the Committee on Payments and Market Infrastructures (CPMI) and the International Organization of Securities Commissions (IOSCO), jurisdictions are making progress on implementing international standardsfor payment systems, central securities depositories, securities settlement systems, central counterparties and trade repositories.

The Level 1 implementation monitoring isbased on self-assessments by individual jurisdictions of how they have adopted measures to implement the 24 Principles for financial market infrastructures(PFMI)and four of the five Responsibilities for authorities that are included in the PFMI.

Today CPMI and IOSCO have jointly released updated information on this progress through theLevel 1 assessments online tracker, which is accessible on the CPMI and IOSCO websites.

The update shows that further progress has been made among some participating jurisdictions that had not completely adopted their implementation measures at the time of theFifth update to Level 1 assessment report, published in July 2018.

Notably, Korea andSouth Africa have completed the process of adopting measures that will enable them to implement the PFMI for all FMI types. Argentina, Chile and Indonesia have also reported progress in adopting measures that will facilitate their implementation of the PFMI, although additional progress is needed to achieve the highest rating for all FMI types.

Thus, 23 of the 28 jurisdictions that participate in the implementation monitoring programme have adopted measures for all FMI types.





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According to a recent update to the Level 1 information made available by the Committee on Payments and Market Infrastructures (CPMI) and the International Organization of Securities Commissions (IOSCO), jurisdictions are making progress on implementing international standardsfor payment systems, central securities depositories, securities settlement systems, central counterparties and trade repositories.

The Level 1 implementation monitoring isbased on self-assessments by individual jurisdictions of how they have adopted measures to implement the 24 Principles for financial market infrastructures(PFMI)and four of the five Responsibilities for authorities that are included in the PFMI.

Today CPMI and IOSCO have jointly released updated information on this progress through theLevel 1 assessments online tracker, which is accessible on the CPMI and IOSCO websites.

The update shows that further progress has been made among some participating jurisdictions that had not completely adopted their implementation measures at the time of theFifth update to Level 1 assessment report, published in July 2018.

Notably, Korea andSouth Africa have completed the process of adopting measures that will enable them to implement the PFMI for all FMI types. Argentina, Chile and Indonesia have also reported progress in adopting measures that will facilitate their implementation of the PFMI, although additional progress is needed to achieve the highest rating for all FMI types.

Thus, 23 of the 28 jurisdictions that participate in the implementation monitoring programme have adopted measures for all FMI types.



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