And what lessons can be learned from the experiences of other countries? The Bank recently held a workshop on these and related topics, with input from many financial market participants. A summary of this workshop will appear in our next Financial System Review.
Market microstructure will continue to be an important area of research at the Bank and, I hope, in the Canadian academic community as well. Payment, Clearing, and Settlement Systems. So far, I've talked about issues related to the architecture of the financial system.