Local view for "http://purl.org/linkedpolitics/eu/plenary/2010-12-14-Speech-2-283"
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"en.20101214.32.2-283"2
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"Since the implementation of the Markets in Financial Instruments Directive (MiFID), the European financial markets have undergone unprecedented changes, both as a result of the directive and for other reasons linked to the crisis. As a consequence, it has not been possible to achieve the desired regulatory aims. The implementation of the MiFID has caused the fragmentation of the markets, which has encouraged the explosive growth of high-frequency trading strategies. The market has adjusted to the use of dark pools for trading large orders in private broker crossings, and to exemptions established in the MiFID for such actions when they are conducted through organised trading venues, called ‘dark transactions’, where transactions were formerly undertaken in regulated markets. It is essential to apply legislation, designed to ensure the effective regulation and transparency of these technological developments, in order to prevent the creation of any systemic risk to the overall functioning of the markets."@en1
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