CCPs have become increasingly critical components of the financial system in recent years, due in part to the introduction of mandatory central clearing for standardised over-the-counter derivatives in some jurisdictions. It is, therefore, vital that each CCP is sufficiently resilient to...

The Bank for International Settlements' Committee on Payments and Market Infrastructures (CPMI) and the International Organization of Securities Commissions (IOSCO) closely monitor the implementation of the Principles for financial market infrastructures (PFMI). This report presents the...