Welcome to our latest webcast.
We are joined this week by:
Haitham Al Salmi, General Manager of Muscat Clearing and Depository;
and Mindaugas Bakas, CEO of the National Depository of Ukraine
to discuss the relevance of conducting a compliance assessment of the CPMI-IOSCO Principles for Financial Market Infrastructures (PFMIs), the benefits of appointing a third-party entity such as Thomas Murray to conduct it and how the exercise helped them to identify potential gaps in meeting international standards and develop a roadmap to address them.
Among other insights, our panellists highlight:
- The benefits to smaller markets of conducting the exercise in order to provide a safe and robust infrastructure for market participants and stakeholders;
- The PFMI exercise with Thomas Murray allowed both clients to identify and close the gaps in their risk management, providing a clear, actionable assessment and setting out a framework for future analysis;
- The strong message from infrastructures to their stakeholders that they are serious about risk and intend to adhere to best practices.
Key advantages of using TM, rather than completing a self-assessment, include:
- The speed and structure of the exercise;
- The powerful gap analysis and elements to set up a roadmap for the future;
- The objectivity of a third-party assessment, useful for informing regulators and opening a dialogue about the market's regulatory framework.
We hope you enjoy the webcast.