IOSCO and the Committee on Payment and Settlement Systems are consulting on a set of principles for financial market infrastructures. The principles would replace three current sets of principles applying to systemically important payment systems, securities settlement systems and central counterparties. The consultation draft includes new standards in some areas, including on segregation and portability, tiered participation and general business risk. The organisations are particularly interested in comments on the draft principles covering credit risk, liquidity risk, segregation and portability, general business risk and access and interoperability. Ideally, the principles will be implemented in domestic frameworks by the end of 2012. Consultation closes on 29 July. (Source: IOSCO announces consultation on Principles for Financial Market Infrastructures, Cover note on Consultative Report on Principles for Financial Market Infrastructures and Consultative Report: Principles for financial market infrastructures)