The financial market infrastructure firms (FMIs) supervised by the Bank of England (the Bank) are essential to the smooth and safe operation of the UK financial system. They provide services, like payments, that we use every day. They enable financial market participants to manage their risks. As a global financial centre, the smooth and safe operation of UK FMIs is also vital for international markets. The Bank’s supervision of FMIs is essential for financial stability by ensuring that their risk management and resilience frameworks enable them to carry out their vital functions in normal times and during periods of stress. The Bank’s supervision of FMIs is key to the Bank’s objective to protect and enhance financial stability in the United Kingdom.
The Bank of England's supervision of financial market infrastructures - Annual Report 2022
The Bank has also produced a short video which sets out what FMIs are and why they are important.