Financial Market Infrastructures: Principles and Practices (FMI-PP)

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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.

Focus:
- The Principles for Financial Market Infrastructures (PFMI).
Instructional methods:
- Combination of lectures, case study simulations, group or individual presentations, and panel discussions.
Lecture topics:
- The 24 principles and 5 responsibilities for authorities under the PFMI.
- The Disclosure Framework and Assessment Methodology.
- Topical issues on cyber resiliency, distributed ledger technology, and relevant digital innovations.
Practical exercises:
- Participants apply standards to a hypothetical country to assess 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.

Upon completion, 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.
- Limit systemic risk and foster transparency and financial stability.