The Committee on Payments and Market Infrastructures (CPMI) and IOSCO have issued a statement on the clearing of deliverable FX instruments by CCPs. In the statement, CPMI-IOSCO set out their expectations concerning the clearing of deliverable FX instruments and the way in which CCPs should meet their obligations under the CPMI-IOSCO Principles for financial market infrastructures (PFMI). These expectations include that a CCP: (i) will remain responsible for whatever settlement processes it uses and for ensuring that it satisfies the PFMI; (ii) should ensure that it maintains sufficient qualifying, highly reliable liquid resources in accordance with principle 7 of the PFMI; and (iii) should conduct appropriate due diligence on its participants.