In areas such as standard setting or the establishment of common infrastructures, the cooperation between private agents of the financial sector is as necessary as competition. Also, there is still a need for market participants to further develop the coordination of joint interests. Market associations, such as the ACI, have an important role to play in this respect.
The function of a catalyst can help coordination. A central bank can perform this role thanks to its acknowledged competence and objectivity, its direct participation in financial markets and its numerous contacts with market participants which ensue from its basic tasks.