In a bid to further enhance the transparency of financial market infrastructure, global policymakers have proposed a further set of disclosure standards for central counterparties (CCPs).

The International Organization of Securities Commissions (IOSCO) and the Committee on Payments and Market Infrastructures (CPMI) Thursday published a set of quantitative disclosure standards for CCPs.

Back in 2012, they published a disclosure framework that primarily deals with qualitative data that CCPs should report. Thursday’s proposals deal with quantitative disclosure that should be issued more frequently than qualitative disclosure.

The proposed disclosures are intended to enable market players, regulators, and the public to assess and compare CCP risk controls, including the financial resources they have to withstand potential losses; the risks associated with a CCP; and, a CCP’s systemic importance and its impact on systemic risk.

Separately, IOSCO and the CPMI also published reports detailing the progress on the implementation of their principles for financial market infrastructures in the U.S., Japan and Europe. The assessments focus on the implementation of the principles in connection with both CCPs and trade repositories (TRs).

Overall, policymakers say that the three jurisdictions have made good progress in implementing the principles in their legal and regulatory frameworks. This is especially true for CCPs, they say, where all, or most, of the principles have been implemented for systemically important CCPs. Their progress has been more varied in terms of trade repositories, the policymakers note. In both cases, the reports highlight gaps and make recommendations for addressing them.