What was the purpose of the global principles for all financial market infrastructures issued in 2012?

The purpose of the global principles for all financial market infrastructures issued in 2012 was primarily to mitigate key risks. These principles were developed to enhance the safety and efficiency of payment systems, securities settlement systems, central counterparties, and trade repositories, among others. By establishing a comprehensive framework, the goal was to address various risks that could impact the stability of financial markets, including credit risk, liquidity risk, and operational risk.

The principles emphasize the importance of robust risk management and governance frameworks, ensuring that financial market infrastructures operate at high standards to protect the financial system and its participants. This proactive approach is essential in reducing systemic risk and fostering confidence among market participants, which ultimately contributes to more resilient financial markets worldwide.