For example, one should ask whether trading systems are able to withstand without friction the failure of a market participant to fulfil its obligations or whether this could lead to a major disruption in trading activity.
By entertaining such questions early on, market service providers will be in a good position to contribute to the development of the financial markets of the euro area in the best possible manner, for the benefit of the economy of the euro area in general. In order to conclude my remarks for today, let me come back to where I began.