Terms of Reference for MMLG Operations Sub-Group
- The Sub-Group’s work will typically be in response to requests from MMLG, although members may also raise issues themselves
- To discuss important market or structural developments affecting the trading, clearing, payments and settlement infrastructure supporting the sterling money markets and, where appropriate, to propose responses for MMLG to consider
- To address areas where the infrastructure and functioning of the market could be improved, making recommendations for MMLG to consider
- To address any high-level issues concerning contingency planning in the sterling money markets, making recommendations for MMLG to consider
- To plan and arrange tests of contingency planning arrangements across the sterling money markets, in conjunction/partnership with other bodies, as directed by MMLG
Membership
- The sub-group comprises representatives from the operations and treasury areas in a range of sterling money market participants, together with representatives from key supporting infrastructure providers.
- Members are invited to contribute with a view to furthering the interests of the market as a whole rather than representing the interests of their own institutions.
- The Committee is chaired by Richard Pattinson (Barclays) and administered by the Bank of England.
- It aims to meet at least quarterly.
- Members should attend meetings themselves, sending alternates only by prior arrangements with the chairman.
