Fundamental to the smooth and effective operation of national and global financial systems are Financial Market Infrastructures (FMIs). If we consider the financial system as being the machines that makes all of our financial transactions possible, from banking to trading, and even day to day shopping, FMIs are the cogs and the cabling upon which these machines rely.
We have a deep understanding of FMI operations and regulatory compliance
We work with and support a range of FMIs and have developed an unrivalled breadth and depth of expertise in areas such as PFMI, CSDR, EMIR and MiFIR.
Our clients span all categories of FMI, operating in multiple international jurisdictions. We have therefore been uniquely placed to grow our specialist skills and deepen our detailed understanding of the operation and regulatory compliance of FMIs and the financial systems they underpin.
We offer a wide range of tailored services for FMIs
Whether we are assessing existing systems and controls, providing recommendations for improvement or building entirely new frameworks, our experienced team of specialists understand what’s important to our clients and to the regulator. We offer a broad set of FMI services tailored to the individual needs of the firm, including:
FMI development
We help firms develop new or existing FMI business lines. This often involves designing and implementing appropriate risk management methodologies or operating models that consider factors such as resources, processes and dependencies along with all relevant regulatory requirements.
CSDs
We have extensive experience of CSDR and the Settlement Finality Regulation, identifying gaps and supporting remedial action as necessary. This could include developing risk management frameworks, supporting with regulatory liaison, or providing technical interpretation of the regulations.
CCPs
We have helped a number of clients ensure compliance with the Financial Services and Markets Act, EMIR and MiFIR, including the plethora of associated delegated regulations and Regulatory Technical Standards (RTSs).
We help CCPs access the benefit of the MiFID/MiFIR Open Access Provisions. We have also supported our clients in various jurisdictions in complying with the IOSCO Principles for Financial Benchmarks.
Recognised payment systems
We work with our clients to help them comply with the relevant principles and codes of practice as stipulated by the regulators. This may include the implementation of new governance structures or identifying and helping firms address control weaknesses.
Our experts
