In my opening remarks I want to address three issues. First, I will set out the main drivers of change that have been shaping Europe’s financial market infrastructure in general and the RTGS system in particular. Second, I will address the consequences of these drivers for change that the Eurosystem will have to tackle in its roles as operator, overseer and catalyst. And third, I will present the Eurosystem’s concept for evolving its market infrastructure beyond 2020.
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