Regulating financial market infrastructures

Vincent O’Sullivan, FS Regulatory Centre of Excellence, PwC. Stephen Kinsella, Department of Economics, University of Limerick.

Financial market infrastructures (FMIs) should prepare recovery and resolution plans to mitigate systemic disruptions in the financial system in the event of their distress or failure. These plans should contain, among other elements, a substantive summary of the key recovery or orderly wind-down strategies, the identification of the FMI’s critical operations and services, and a description of the measures needed to implement the key strategies.