When setting up this conference my colleagues were faced with the difficulty of placing the issue before central bankers: the theme is partly a financial market policy issue, partly an oversight issue and we cannot ignore the fact that central bank operations are involved, too.
It falls into the area of cooperation with supervisors, as technology changes the risk profile of financial institutions and the market as whole. It is essential that new technologies, new products and processes are understood not only by market operators but also by the authorities. Contagion can take on new forms via networks and loss of public confidence.