November 24-28, 2025

21 officials from Azerbaijan, Botswana, Cambodia, China, Malaysia, Tajikistan, and Thailand, learned about the principles and practices of financial market infrastructures in Shenzhen from November 24 to 28, 2025.

This course, presented by the IMF Monetary and Capital Markets Department (MCM), combined lectures, case study simulations, participant presentations, and panel discussions. The lectures focused on the 24 principles and 5 responsibilities for authorities under the Principles for Financial Market Infrastructures (PFMI), the Disclosure Framework, and Assessment Methodology, and topical issues on cyber resiliency, distributed ledger technology, and relevant digital innovations. After gaining a basic understanding of the standards, the participants applied them to a hypothetical country to assess the level of compliance of its FMI landscape. This hands-on assessment experience is accompanied by group presentations and discussions, where representatives from each participating jurisdiction presented on the FMI landscapes and developments in their respective country or region. The participants also shared experiences regarding any assessments that have previously been performed.