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European Commission to probe transparency risks in non-cash markets

12 June 2006  |  5222 views  |  0 mifid

The European Commission is to investigate the imposition of MiFID-style transparency rules for fixed income and derivatives markets.

The Commission has issued a call for evidence to interested parties under proposals to investigate whether and to what extent new requirements on pre- and post-trade transparency should be introduced at EU level to the trading in financial instruments such as bonds and other non-equities.

Internal market and services Commissioner Charlie McCreevy says: "I have a completely open mind at this stage. These are massively important markets. I hope there will be a wide response from all parts of the EU."

The Commission intends to prioritise cash bond markets (government, investment grade and high-yield), as well as related derivatives markets and other important markets such as those for asset-backed securities.

Respondents have until September to present their views on the subject. A final report will be published in autumn next year.

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