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Financial trading venues such as stock exchanges, futures exchanges, commodities exchanges and electronic trading platforms, are not always considered financial market infrastructures where they are subject to competition, but are included in the definition of financial market infrastructures in certain jurisdictions such as Switzerland. [6]
A financial market must identify operational risks: both internally and across the market and its participants. Where appropriate, they should mitigate the risks through controls. [1] Systems used by the market must have a high degree of reliability and security, and must have sufficient capacity for the needs of the market. [1]
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The International Organization of Securities Commissions (IOSCO) is an association of organizations that regulate the world's securities and futures markets. Members are typically primary securities and/or futures regulators in a national jurisdiction or the main financial regulator from each country.
The Federal Reserve is tasked with maintaining a stable and sound financial system — most notably by raising or lowering interest rates at (what’s typically) eight meetings a year.
The Euro-Currency Standing Committee (ECSC) was established by a decision of the BIS Governors at their meeting of April 1971. [1]: 3 It adopted its current name in February 1999, as the word euro had taken a new meaning as the European single currency.
A central clearing counterparty (CCP), also referred to as a central counterparty, is a financial market infrastructure organization that takes on counterparty credit risk between parties to a transaction and provides clearing and settlement services for trades in foreign exchange, securities, options, and derivative contracts. CCPs are highly ...
Section 804 of the Dodd–Frank Wall Street Reform and Consumer Protection Act (DFA) provides the Financial Stability Oversight Council (FSOC) the authority to designate a financial market utility (FMU) that it determines is or is likely to become systemically important because the failure of or a disruption to the functioning of the FMU could create, or increase, the risk of significant ...