The Committee on Payments and Market Infrastructures ("CPMI") and the Technical Committee of the International Organisation of Securities Commissions ("IOSCO") are responsible for the establishment of the broad international standards for the regulation and conduct of clearing and settlement facilities. These are set out in the CPMI-IOSCO Principles for Financial Market Infrastructures ("the Principles" or “PFMI”), which were released in April 2012.
The overall objective of the Principles is to ensure that financial market infrastructures promote stability and efficiency in the financial system.
The Australian regulators have implemented the Principles, as confirmed in the Level 1 Assessment Report released in August 2013, and the subsequent first update released in May 2014. The Level 2 Assessment Report released in December 2015, found that the Australian legal, regulatory and oversight frameworks are complete, and have consistently adopted most of the Principles in all types of FMI.
View ASX Group's response to the CPMI-IOSCO Disclosure Framework for Financial Market Infrastructures.
In February 2015, CPMI-IOSCO published the Public quantitative disclosure standards for central counterparties, which are intended to supplement the qualitative disclosures in the PFMI Disclosure Framework.