In introducing e-money into the National Payment System, it must firstly fulfil certain legal requirements in which the rights and obligations of the respective participants must be clearly defined and disclosed.
As we begin to trade in these products, we will need to be patient—liquidity may take some time to build. Conclusion The work under way on benchmarks is complex and requires a great deal of coordination among countries, central banks and market participants. The Bank of Canada is committing significant resources to this effort, as are private-sector market participants.