One way to achieve this is by involving institutions, or financial subsectors, that are not represented in the working group discussions. Coordination, cooperation and transparency across market segments, products and users is therefore essential for the success of the benchmark reform and the possible transition to alternative rates.
Many users and other involved parties may not yet be aware of the changes to come, and all of us need to make an effort to reach out to them too. Thank you. 2/3  BIS central bankers' speeches  1 BIS Economic Consultative Committee (ECC) report entitled “Towards better reference rate practices: a central  bank perspective” (March 2013).