The Committee on Payment and Settlement Systems (“CPSS”) and the Technical Committee of the International Organization of Securities Commissions (“IOSCO”) have jointly issued new principles for financial market infrastructure ("principles") which are designed to ensure that the essential infrastructure supporting global financial markets is even more robust and thus even better placed to withstand financial shocks than at present. The report contains a single, comprehensive set of 24 principles designed to apply to all systemically important payment systems, central securities depositories, securities settlement systems, central counterparties and trade repositories (collectively “financial market infrastructures” or “FMIs”). These FMIs collectively record, clear and settle transactions in financial markets. When finalised, the new principles will replace the three existing sets of CPSS and CPSS-IOSCO standards: the Core Principles for Systemically Important Payment Systems (2001); the Recommendations for Securities Settlement Systems (2001); and the Recommendations for Central Counterparties (2004).