As noted, the IMF has expressed support for the approach reflected in this bill, and the bill closes an important regulatory gap in New Zealand by ensuring that these vital but often little noticed infrastructures are subject to effective supervision and oversight. In doing so, it marks an important step in supporting financial stability and the effective operation of financial markets, aligning with international standards in a reasonable and proportionate manner, and supporting confidence in the New Zealand financial system and the operation of the real economy. I commend the Financial Market Infrastructures Bill to the House.