Local view for "http://purl.org/linkedpolitics/eu/plenary/2012-10-25-Speech-4-373-000"

Predicate	Value (sorted: default)
rdf:type	lpv_eu:Speech2
dcterms:Date	"2012-10-25"^^xsd:date2
dcterms:Is Part Of	lp_eu:Markets in financial instruments and repeal of Directive 2004/39/EC - Markets in financial instruments and amendment of the EMIR Regulation on OTC derivatives, central counterparties and trade repositories (debate)2
dcterms:Language	"de"^^xsd:language2
lpv:document identification number	"en.20121025.28.4-373-000"2
lpv:hasSubsequent	lp_eu:2012-10-25-Speech-4-374-0002
lpv:speaker	lp:Thomas Mann2
lpv:spokenAs	vice-chair; Delegation for relations with the countries of South Asia (2009-09-30--2014-06-30)3 member; EPP (2009-07-14--2014-06-30)3 unknown; Christlich Demokratische Union Deutschlands (2009-07-14--2014-06-30)3 vice-chair; EMPL (2012-01-25--2014-06-30)3 substitute; Delegation for relations with India (2009-09-16--2014-06-30)3 substitute; ECON (2012-01-19--2014-06-30)3
lpv:translated text	"Mr President, Commissioner Barnier, the MiFID II Directive, is a genuine milestone on the path to more efficient financial markets. Effective supervision must be established in order to ensure that all financial actors play by the rules. Quite rightly, the excellent report by Mr Ferber stipulates improved investor protection. We must prevent customers from exposing themselves to major risks through incorrect advice. Through provision of all the required information, they will be able to choose the most beneficial investment strategy for them. Products with a high factor of speculation must be clearly identifiable from the outset. Clearly, high-frequency trading must be more strictly regulated. We must put a stop to such transactions, which are carried out at the speed of sound and involve no business worth mentioning. The planned minimum holding periods of 500 milliseconds for orders are correct. They ensure that the continual placing and cancelling of orders will be limited to a minimum. If orders are cancelled before execution only in order to push prices higher, traders must be politely asked to pay up. I welcome the compromise reached on position limits, i.e. on the maximum limit of high-risk financial contracts held. It enables speculation on raw materials, which is getting out of hand, to be channelled in a reasonable direction. There is no doubt that we need raw materials in order to supply our industries with the resources they need for production. What we absolutely do not need are bets that drastically push food and production prices higher. Clear limits must also be set here."@en1
lpv:videoURI	<go to Events_and_structure europarl>2

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