Corporate governance for financial market infrastructures

Abstract

This article provides an analysis of the corporate governance practices across financial market infrastructures (FMIs). Although there are no mandatory global standards, the CPSS IOSCO Principles for FMIs provide a general guidance that will be the corporate governance norm in the future. Such standards are based on six criteria used to assess the level of compliance including board arrangements, establishment and monitoring of the risk management framework, performance assessment management, establishment of users groups, disclosure of corporate information and disclosure of statistical information.