Local view for "http://purl.org/linkedpolitics/eu/plenary/2012-10-26-Speech-5-264-906"
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"en.20121026.23.5-264-906"2
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I voted to amend the proposal for a regulation on markets in financial instruments and amending the European Market Infrastructure Regulation on over-the-counter derivatives, central counterparties and trade repositories. The recent financial crisis has exposed a number of weaknesses in the transparency of financial markets, which can contribute to harmful socio-economic effects.
I support greater transparency to strengthen the financial system. In order to strengthen the transparency and improve the functioning of the internal market for financial instruments, a new framework establishing uniform requirements for the transparency of transactions in markets for financial instruments should be put in place. In order to make markets more transparent and efficient, and to level the playing field between various venues offering multilateral trading services, it is necessary to introduce a new category of organised trading facility (OTF) for bonds, structured finance products, emissions allowances and derivatives, and to ensure that it is appropriately regulated and applies non-discriminatory rules regarding access to the facility. This new category also encompasses systems that should be eligible for trading clearing-eligible and sufficiently liquid derivatives but that do not have the characteristics of the existing categories of trading venue."@en1
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