Clearing and settlement

On 24 January 2025, the Global Foreign Exchange Committee (GFXC) issued a press release announcing that it had completed its review of the FX Global Code (Code).

This latest version of the Code will supersede the July 2021 version. Updates have been made to five of the Code’s fifty-five principles to

The Global Foreign Exchange Committee (GFXC) has issued a press release following its virtual meeting on 5–6 December 2024.

Among other things the press release notes that:

  • The GFXC considered the final version of the amendments to the FX Global Code (Code) and the GFXC membership expressed strong support for the

On 15 October 2024, the Committee on Payments and Market Infrastructures (CPMI) issued the following reports which offer insights into enhancing cross-border payments by facilitating the interlinking and interoperability of payment systems:

  • Linking fast payment systems across borders: governance and oversightfinal report. This final report informs owners and operators of

From 23 September 2024, Hong Kong’s securities and derivatives markets will remain open during severe weather conditions (where a typhoon signal No. 8 or above or a black rainstorm warning is issued by the Hong Kong Observatory). The Securities and Futures Commission of Hong Kong (SFC) published a Circular on 18 June 2024

On 13 February 2024, the Bank for International Settlements’ Committee on Payments and Market Infrastructures (CPMI) and the International Organization of Securities Commissions (IOSCO) published a report ‘Streamlining variation margin in centrally cleared markets – examples of effective practices’.

In September 2022, the Basel Committee on Banking Supervision, CPMI and

On 6 December 2022, the Global Foreign Exchange Committee (GFXC) issued a press release concerning its recent video conference meeting where, among other things, it nominated and elected a new Co-Vice Chair. Also during the meeting GFXC members also agreed to commission a Digital Proportionality Tool for facilitating FX Global Code adherence. This

On 8 November 2021, the Bank of England (BoE) issued a Consultation Paper and a draft Statement of Policy on its approach to ‘tiering’ non-UK central counterparties (CCPs) based on the level of systemic risk they could pose to UK financial stability. The consultation closes on 25 February 2022.

Under the

On 7 October 2021, the Committee on Payments and Market Infrastructures (CPMI) issued a call for ideas on payment-versus-payment (PvP) mechanisms.

As part of the G20 cross-border payments roadmap, the CPMI is developing proposals for increased PvP adoption by encouraging enhancements to existing PvP arrangements and/or the design of new public

On 22 September 2021, the Regulatory Oversight Committee (ROC) of the Global Legal Entity Identifier published a revised version of the CDE Technical Guidance which includes corrections that the ROC considers appropriate to facilitate its jurisdictional implementations. In developing these corrections, the ROC considered the responses to a public consultation that was run

On 5 August 2021, the Committee on Payments and Market Infrastructures (CPMI) published its work programme for 2021-22. The annual work programme has been publicly released for the first time as part of the CPMI’s commitment to increased transparency. The annual work programme will focus on shaping the future of payments and