Local view for "http://purl.org/linkedpolitics/eu/plenary/2011-07-04-Speech-1-041-000"

Predicate	Value (sorted: default)
rdf:type	lpv_eu:Speech2
dcterms:Date	"2011-07-04"^^xsd:date2
dcterms:Is Part Of	lp_eu:Derivatives, central counterparties and trade repositories (debate)2
dcterms:Language	"de"^^xsd:language2
lpv:document identification number	"en.20110704.19.1-041-000"2
lpv:hasSubsequent	lp_eu:2011-07-04-Speech-1-042-0002
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 vice-chair; EMPL (2009-07-16--2012-01-18)3 unknown; Christlich Demokratische Union Deutschlands (2009-07-14--2014-06-30)3 substitute; Special Committee on the Financial, Economic and Social Crisis (2010-03-08--2011-07-31)3 substitute; Delegation for relations with India (2009-09-16--2014-06-30)3 substitute; ECON (2009-07-16--2012-01-18)3
lpv:translated text	"Madam President, our unanimous vote in the Committee on Economic and Monetary Affairs sent out a clear message that in future, derivatives will be regulated at Community level. Mr Langen’s excellent report makes it clear that we will insist that transactions involving derivatives – which until now have often been traded over the counter – are made fully transparent. Excessive trading in derivatives is a potential threat to the financial markets. I welcome the fact that only a few exceptions from the scope of application are being proposed. This will make the directive more effective. Clearing of over-the-counter (OTC) derivatives – in other words, their risk assessment and settlement – is to be recorded centrally in future. This will improve transparency in the various markets. It is in the interests of investors that the new European Securities and Markets Authority (ESMA) should take on a pivotal role. Moreover, the trade repository and the standardisation of the processes should both enable new risks to be identified at an early stage. The Commission is already on board. It is now time for the Council to step up to the mark, so that the Member States finally start singing from the same hymn sheet. That way, we will be able to get the job done properly this autumn. Risk control and market transparency are the cornerstones of a functioning financial services market and provide an excellent basis for the long-term confidence that is needed."@en1
lpv:videoURI	<go to Events_and_structure europarl>2

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