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The principles are structured according to the time frame of a CIS’s life. They start with principles that should be considered in the design (pre-launch) phase of a CIS. They then outline the principles that should form part of the day-to-day liquidity risk management process.
The principles are addressed to the entity/entities responsible for the overall operation of the CIS and in particular its compliance with the legal/regulatory framework in the respective jurisdiction and thus for the implementation of the principles.