Collective action by market participants, perhaps with the support of public authorities, has therefore to be organised at the EU level to overcome possible co-ordination problems in this process. The integration of money markets is a clear example of how actions by market players themselves may underpin integration.
Therefore, as we celebrate with the CDSC, CMA, NSE and indeed the entire capital markets fraternity, we are also affirming the potential for more innovativeness and enhancement of safety and efficiency through collaborations and innovation in payment and settlement systems. In doing so, we shall play our role in enabling the attainment of the national economic goals envisaged under Vision 2030.