This achievement would not have been possible without the full commitment and involvement of the Government, authorities and the private sector. 1/4  BIS - Central bankers' speeches  The institutional set up and mechanism put in place in Mauritius during this process has indeed paid its dividends.
Last November, for example, at the European Commission’s request, the relevant European industry associations and their members signed a “European Code of Conduct for Clearing and Settlement”, which aims to foster competition and efficiency of clearing and settlement in the EU. The ECB welcomes this initiative and acknowledges the commitment by the industry.