Cooperative fora in payment intermediation

The role of the Strategic Forum is to keep abreast of developments and innovations in financial market infrastructure, with an eye to efficacy, security, and efficiency. The Forum accepts and then evaluates proposals and ideas for new collaboration among market agents in the field of financial market infrastructure.

The Rulebook Council is responsible for the organisation, publication, and oversight of rulebooks, which are a collection of accepted protocols or groundrules for communications between systems. The objectives of rulebook issuance include setting forth provisions on infrastructure participants’ rights and responsibilities, laying down groundrules for payment system participants, standardising procedures, and enhancing transparency in system operations.

The Payments Council is a forum for cooperation among the authorities, market agents, and other stakeholders on issues relating to payment intermediation and financial market infrastructure in a broad sense. Its purpose is to support policy formulation, elicit points of view, and provide support for further development and innovation in the field of financial market infrastructure.