Local view for "http://purl.org/linkedpolitics/eu/plenary/2010-12-14-Speech-2-856"

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"en.20101214.32.2-856"2
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"I fully support the rapporteur, Mrs Swinburne, and her idea to promote competition between trading venues for execution services. This has led to increased investor choice, lowered transaction costs and has helped increase the efficiency of the price formation process. There are now 136 multilateral trading facilities (MTF), as well as the primary exchanges, which collectively make up the organised trading venues. These organised venues account for some 60% of the trading volume, with the remainder being carried out by broker-dealers, collectively termed ‘over the counter’ (OTC). Bilateral trades, where the client gives the broker an order and he finds a match, have migrated from mainly verbal orders to predominantly electronic orders. Although, by definition, there is no pre-trade transparency for OTC trades, they are still required to be reported under the rules of the Markets in Financial Instruments Directive (MiFID)."@en1

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