On 14 February 2023, the International Organisation of Securities Commissions (IOSCO) and Committee on Payments and Markets Infrastructures (CPMI) issued a press release regarding the CPMI-IOSCO stocktake of industry progress on auctions.

In the press release the CPMI and IOSCO take stock of the industry progress made since the publication of the CPMI-IOSCO report Central counterparty default management auctions – issues for consideration (auctions report). In particular, the CPMI-IOSCO discuss progress made as regards operational issues (for instance auction terminology) and where there have been differing views among clearing members and other stakeholders and central counterparties (CCPs). The press release also notes that work has not yet started on emerging practices that may require further coordination and harmonisation among the default management processes of multiple CCPs. However, the CPMI-IOSCO have encouraged the industry to further engage and communicate on these issues, and to identify, where possible, solutions to address potential negative externalities associated with these topics.