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Comments due on FRB ORSOM proposal


The FRB has published a proposal to use the ORSOM (Organization; Risk Management; Settlement; Operational Risk and Information Technology (IT); and Market Support, Access, and Transparency) rating system in reviews of financial market infrastructures (FMIs). FMIs are multilateral systems that transfer, clear, settle, or record payments, securities, derivatives, or other financial transactions among participants or between participants and the FMI operator. The Board is seeking comment on this system for rating FMIs, which the Federal Reserve anticipates implementing in 2016. Comments are due by January 22, 2016.

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