Financial market infrastructure (FMI) - Financial definition
Concise definition of the term financial market infrastructure
An FMI is a multilateral system - electronic or organisational - among participating institutions, including the operator of the system, that is used for the purposes of clearing, settling or recording payments, securities, derivatives or other financial transactions.
Comprehensive definition of the term financial market infrastructure
Are considered as FMIs:
- payment systems,
- central securities depositories,
- securities settlement systems,
- central counterparties, and
- trade repositories.