Local view for "http://purl.org/linkedpolitics/eu/plenary/2012-10-25-Speech-4-465-000"

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"en.20121025.32.4-465-000"2
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"Tomorrow’s vote in the European Parliament’s plenary session in Strasbourg will put a significant brake on speculative high-frequency trading and foodstuff trading – a further piece of the jigsaw of European financial market regulation following the crisis. We MEPs are the driving force in ensuring that irresponsible speculation and high-frequency trading is regulated. MiFID II will ensure that orders must be at least half a second in length to be valid and may not be cancelled or changed within that time span. I particularly agree with the restrictions that the European Parliament has placed on speculations on the raw materials markets. ESMA, the European Securities and Markets Authority, as the regulator, will be able to decide which market participants may sell which raw materials and in what amounts. This is an important first step in restricting speculation on raw materials, which drives food prices up, and in combating considerable market fluctuations. The proposals for the revised Directive and Regulation on Markets in Financial Instruments (MiFID and MiFIR) provide uniform trading rules for the protection of investors in order to improve the way the stability of the financial markets is protected. Therefore, I will vote for stronger regulation and the inclusion of over-the-counter business."@en1

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