Regulatory Alerts2023-07-31
FMI Standard 18: Access and participation requirements
The Reserve Bank of New Zealand and the Financial Markets Authority jointly issued FMI Standard 18 to regulate access and participation for designated financial market infrastructures. The standard mandates that operators establish objective, risk-based, and publicly disclosed criteria to ensure fair and open access while maintaining safety and efficiency. Operators are required to minimize restrictions on participation, monitor compliance continuously, and maintain procedures for the suspension or orderly exit of non-compliant participants.
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