Regulatory Alerts2023-07-31
FMI Standard 10: Physical Deliveries
The Reserve Bank of New Zealand and the Financial Markets Authority jointly issued FMI Standard 10 to regulate designated financial market infrastructures regarding physical deliveries. The standard requires operators of securities settlement systems, central securities depositories, and central counterparties to clearly state their obligations under FMI rules concerning the delivery of physical instruments or commodities. Furthermore, operators must actively identify, monitor, and manage the risks associated with these physical delivery processes for settlement.
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