Furthermore, trade repositories need to be designed, operated and overseen in an adequate manner, given the novelty of these infrastructures and the reliance of other market infrastructures, public authorities and market participants on the accuracy and availability of the respective data. Two complementary strands of work are underway in these fields.
Fostering innovation: 21st century ways to pay 25 years ago, nobody would have expected that the way we work, communicate and access information and entertainment would be changed as profoundly as it has through the invention of the chip, the internet and the mobile phone. However, the diffusion of innovations in retail payments has been strikingly slow.