FMIs get busy, as supervisors circle

Via new roles and controls, exchanges and clearers hope to “get ahead” of regulatory wave

Jump to: Risk appetite | Organisation and staffing | Controls | Reporting | Mini-methodology

In the old days, cash and futures markets were littered with exchanges and clearing houses. Often, exchanges owned their own clearing house. They were important structures, but also fairly simple ones. The markets they served tended to be constrained by geography, asset class and instrument.

Today’s financial market infrastructures (FMIs) are a different beast – larger, more complex, offering a range of