CPMI and IOSCO Issue Quantitative Disclosure Standards for Central Counterparties

The Committee on Payments and Market Infrastructures ("CPMI") and IOSCO published a document, titled "Public Quantitative Disclosure Standards for Central Counterparties" (the "Document"), that sets forth quantitative data disclosure standards for central counterparties ("CCPs").

The Document is meant to complement the disclosure framework, published by the Committee on Payment and Settlement Systems and IOSCO in December 2012, that was intended to improve the overall transparency of financial market infrastructures and that covers qualitative data in need of updating relatively infrequently. Taken with the disclosure framework, the Document proposes disclosures that are intended to help stakeholders, authorities, participants and the public to:

• compare CCP risk controls, including the financial resources to withstand potential losses;
• develop a clear and accurate understanding of the risks associated with a CCP;
• understand and assess a CCP's systemic importance and its impact on systemic risk; and
• understand and assess the risks of participating in a CCP.

See: "Public Quantitative Disclosure Standards for Central Counterparties"; IOSCO Press Release.