WFE response to CPSS-IOSCO Consultation on Principles for Financial Market Infrastructures, July 2011
WFE agrees that a global review of market infrastructure institutions is important stock-taking in light of financial market events and operating conditions post-2007. The goal of creating a single set of overarching standards is valuable for WFE and its members, as with International Financial Reporting Standards, the OECD’s Principles of Corporate Governance, and IOSCO’s Principles of Regulation. The member exchanges have voted measures of public endorsement for them in years past, precisely because they promote a sounder global financial system. In this case, the CPSS-IOSCO idea of updating and synthesizing pre-existing work also makes good sense to move ahead in this direction.