Japan's Fukui on global exchanges
"I should stress that in a globalizing world supported by information technology, the certainty of transactions is a crucial factor for sound development of the financial system. Central banks provide certainty through the finality of payments effected through their accounts. Exchanges provide certainty through its settlement arrangements. In light of these common roles, I believe that we can cooperate in many ways to enhance the efficiency and soundness of the financial system. I look forward to working together with you in this regard."
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Speech given by Toshihiko Fukui, Governor of the Bank of Japan, at the Annual Meeting of the World Federation of Exchanges on October 13, 2004.
Click here to read the speech "Global imbalances and exchanges" on the Bank of Japan's web site
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