On 8 October 2025, the Bank of England (BoE) published a speech by Sasha Mills (Executive Director, Financial Market Infrastructure) entitled From new ideas to new market structures, how innovation is reshaping the financial system. In this speech, Sasha Mills explores how emerging ideas and technologies – such as distributed ledgers – are spurring innovation and reshaping market structures. She underscores the BoE’s backing of responsible innovation by both start-ups and established firms and explains how the BoE’s regulatory approach is evolving in tandem with technological change.