 So good morning, everyone, and welcome to this second roundtable of the working group on Euro risk-free rates. I'm happy to see that so many of you are here today, and also that both the financial sector and the non-financial sector are present here today, which really sends the right signal, namely that the reform of interest rate benchmarks cuts across sectors and that it will ultimately affect everyone. So all of you are stakeholders in this discussion. And beyond you, your clients, I mean, the whole ecosystem should be on board, and I'm glad to see that you are on board. The reform process is gaining steam, as you know, precisely one week from now on the 2nd of October. The ECB will start the daily publication of the new Euro short-term rates, ESTR, which was selected by the private sector working group to replace EONIA. ESTR will be based on a broad set of granular money market transactions, which will make it robust, reliable, and representative of the Euro money market. Internal preparation for the launch of ESTR is completed, and we had our first stress test already last week, when the cut in the deposit-facility rate of the ECB to a minus 0.5%, which was decided by the governing council two weeks ago, became effective. And I'm glad to see, we were all glad to see that the ESTR responded exactly as expected and the cut was fully pried through. That is, ESTR went down by exactly 10 basis points. So we have a very smooth and stable money market, which is nice to see. This certainly gives us additional confidence that the ESTR is well-designed and reliable and captures swiftly changes in market developments. So you could see the launch of the ESTR as the end of a process, as a culmination of a process, and that's what it is, and I will also take the opportunity to thank very much all the teams here in the ECB on the statistical side and on the market side, who worked very hard toward that achievement. But it's also the beginning of another journey. The launch of ESTR next week means that the clock is ticking. As of next week, the publication of AONIA, as you know, will switch from T to T plus one, which will set in motion the first changes. So for example, everyone who has so far relied on AONIA's availability the same day for pricing evaluation will need to postpone those calculations until the next morning. On 3rd of January 2022, we'll see the last publication of AONIA. According to an ECB money market statistical data, there are still some 13.7 trillion euros of national amount of AONIA, OIS contracts, outstanding after 2nd of October 2019, so as of next week, and out of these, 3.7 trillion euros will remain outstanding even after 2022, when AONIA will no longer be there. So market participants should exercise special care for the latter contracts so that they are either closed out in time or renegotiated based on the ESTR, as recommended by the working group. The transition to the ESTR should also be broad-based across market segments. That is, it should not only be seen as a replacement of AONIA in the OIS market, market participants should try to find a wider use of the rate, also in cases in which you would typically use an IBO, for example, in the cash market. There will be a growing demand for your products referencing the ESTR, such as notes, loans, also hedging instruments in the derivatives market. The ECB welcomes the quick and wide adoption of these products, reference to the ESTR and the financial sector is expected to respond to such a demand, as more solid and transparent benchmark rates are key elements of public confidence and financial stability. So these preparations should start now. Following the launch of the ESTR, the work on your IBO fallbacks should take center stage in the working group agenda. The fact that your IBO was successfully reformed using the so-called hybrid methodology and authorized should not be the reason for your IBO users to postpone the incorporation of fallbacks in their contracts, which is a legal requirement. Your IBO was and remains the responsibility of the private sector and its sustainability in the long run will depend entirely on the private sector. In other words, users should be prepared for all scenarios, including the disappearance of this benchmark, hence the fallback. The ESTR is certainly a prime candidate to be considered for use in fallback arrangements. It will fill the requirements that we deem essential for a fallback. It is credible, transparent and simple, and it will be available irrespective of market circumstances. Market participants should also focus on fallback solutions which guarantee a certain level of consistency across products in the eurozone and also across jurisdictions. This implies that the experience of other working groups or industry bodies should be a natural starting point in working group discussions. Such consistency has a potential to reduce complexity in internal risk management practices, for example, or for hedging. And there will be plenty of time this morning to discuss all of these issues in the panels. So a lot remains to be done in making a good use of the ESTR and in implementing robust fallbacks. I'm hopeful that the working group will approach the remaining challenges with the same energy and thoroughness that it has demonstrated so far in planning for the discontinuation of EONIA. So before I hand over to Stephen Mayor, let me thank the members of the working group and its substructures for the continuing work and dedication. And above all, thanks to the team of ING for their impressive leadership and time dedicated to the project. Big thanks also to the colleagues at the ECB, at ESMA, at the FSMA, at the European Commission for their continuing support in the organization of the working group and its discussions. And finally, thank you all for participating at today's event for your interest, for your continuing involvement and contribution to the benchmark reform topic. I hope you will find today's roundtable useful for your preparations and importantly, spread the word to peers, to partners and to client of yours. Thank you very much and Stephen, the floor is yours.