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A private organization sponsored by central banks and major commercial and investment banks. The Group of 30 assembled an international task force that developed plans for faster, standardized clearance and settlement of domestic and international securities transactions. This has led to shorter settlement times in many markets. A later task force examined risk management procedures, particularly as they pertain to derivative instruments, and made recommendations for improvements in risk management procedures by financial and non-financial corporations. Follow up surveys indicate a remarkably high rate of adoption of these risk management standards.
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