The Committee on Payments and Market Infrastructures (CPMI) and the International Organization of Securities
Commissions (IOSCO), jurisdictions are making progress on implementing international standards for payment
systems, central securities depositories, securities settlement systems, central counterparties and trade
This was revealed by a recent update to the level one information made available by CPMI and IOSCO. The level
one implementation monitoring is based on self- assessments by individual jurisdictions of how they have adopted measures to implement the 24 Principles for financial market infrastructures (PFMI) and four of the five responsibilities for authorities that are included in the PFMI.
At the moment, CPMI and IOSCO jointly released updated information on the progress through the level one
assessments online tracker, which is accessible on the CPMI and IOSCO websites.
The online tracker does not require the publication of a level one assessment report, thereby permitting jurisdictions to update their information more quickly.
The current update shows that further progress has been made among some participating jurisdictions that had not
completely adopted their implementation measures at the time of the fifth update to level one assessment report,
published in July 2018.
Notably, Korea and South Africa have completed the process of adopting measures that will enable them to
implement the PFMI for all FMI types. Argentina, Chile and Indonesia have also reported progress in adopting
measures that will facilitate their implementation of the PFMI, although additional progress is needed to achieve
the highest rating for all FMI types.
Thus, 23 of the 28 jurisdictions that participated in the implementation monitoring programme have adopted
measures for all FMI types. The CPMI and IOSCO encourage jurisdictions to continue to adopt measures that will enable them to implement the PFMI. To support future progress, the two bodies will continue to update the information on the level one assessment through the online tracker, based on progress reported by participating jurisdictions.