(Finance) – “The market is made up of physical infrastructures and rules. Different rules lend themselves to different interpretations, and there is a lot of talk about this. I want to focus on infrastructure. In Europe we have 295 trading venues and 32 Central Securities Depstream (CSDS). We therefore have different pipelines with many rules, and it is difficult to find efficiency“. He said it Piero CipolloneMember of the Board of the European Central Bank (ECB), at the “Fifty Years of Consob’s event: between present and future” in Bocconi.
“We are working on this infrastructure to make it more efficient – he added – We work to make it easier to provide liquidity to the market “.
“We are working on A unique way for intermediaries to put collateral In the central bank, to obtain liquidity, “explained Cipollone.
“Much of fragmentation can be overcome with a single ledger, but it is not up to the ECB but to the market to do so – said the ECB official – We must be sure if someone wants to trading has the liquidity of the central bank. If the market has central bank currency, it will use private capital, with the risk of associated credit“.