Financial Market Infrastructures: Principles and Practices (FMI-PP)
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Course overview
- The course, presented by the Monetary and Capital Markets Department, focuses on the Principles for Financial Market Infrastructures (PFMI).
- The course is designed to be interactive using a combination of lectures, case study simulations, group or individual presentations, and panel discussions.
- Lectures focus on the 24 principles and 5 responsibilities for authorities under the PFMI, the Disclosure Framework, and Assessment Methodology, and topical issues on cyber resiliency, distributed ledger technology, and relevant digital innovations.
- Participants apply the standards to a hypothetical country to assess the level of compliance of its payment system, securities settlement system, and central securities depository.
- Self-assessment exercises are based on targeted principles; results are discussed through group presentations and de-briefings.
Target audience and qualifications
- Target audience:
- Mid- to senior-level officials working in the payment, legal, risk management, and technology departments at the central bank or supervisory authority and in positions with similar responsibilities.
- Qualifications:
- Participants should have experience in operations, policy, and/or oversight in one or more of the following areas: financial market infrastructures (such as payments systems, securities settlement systems, central securities depositories, central counterparties, and trade repositories), legal, risk management, and technology departments.
Course objectives
- Upon completion of the course, participants should be able to:
- Understand a framework of the Principles for Financial Market Infrastructures.
- Apply the standards for the compliance of its payment system, securities settlement system, and central securities depository.
- Enhance safety and efficiency in payments, clearing, settlement, and recording arrangements, and more broadly, to limit systemic risk and to foster transparency and financial stability.