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Home > Financial Stability > Standards for financial market infrastructure

Standards for financial market infrastructure

For all financial market infrastructure (FMIs) supervised by the Bank, the regulatory context  will be framed by the internationally agreed CPSS/IOSCO Principles for financial market infrastructure. 
There are then different legal regimes for securities settlement systems, recognised clearing houses (RCHs) (including central counterparties (CCPs)) and recognised payment systems. Systems designated under the Settlement Finality Regulations also must meet the obligations contained therein.
Some systems may be subject to requirements under more than one regime (eg as a recognised payment system, recognised clearing house and designated system). With the introduction of the European Market Infrastructure Regulation (EMIR), the Bank will recognise RCHs which are not CCPs by reference to domestic requirements and will recognise RCHs which are CCPs by the requirements in EMIR and some additional domestic requirements. 

The Bank is also obliged to produce material explaining how it will use certain of its powers; these are available with the relevant system material.