21 February 2018
Visit www.avoka.com

Deutsche Börse and Euroclear back McCreevy's 'code of conduct' for securities trading

11 July 2006  |  1936 views  |  0 Source: Deutsche Börse

Deutsche Börse welcomes the EU Commission's statement to support market-led improvements to increase the efficiency of cross border equity trading in the EU.

The company said it will contribute to the code of conduct applying to cash equities presented by Commissioner McCreevy. Deutsche Börse will continue to play an active role in driving further efficiency improvements across the industry.

In a separate statement, Euroclear says it views Commissioner McCreevy's decision to establish a Code of Conduct as a sensible and pragmatic alternative to specific new legislation targeted at the clearing and settlement industry. Euroclear, whose business model is based on the harmonisation of market practices and consolidation of settlement systems, is fully committed to work hard with the industry and the authorities to ensure that the proposals contained within the Code are implemented according to the European Commission’s timetable. We share the aim of the Commission to deliver an integrated, internationally competitive and efficient European capital market.

The Code calls upon diverse market participants – settlement systems, stock exchanges and CCPs - to work together quickly, at a detailed level, to establish a common approach to resolve the key clearing and settlement industry issues identified by the Commission. Euroclear will begin work immediately to ensure that the Commission's tight schedule can be met.

Euroclear supports the Commission's encouragement of Member States to accelerate work on removing the fiscal barriers identified in the Giovannini Group reports. We have long expressed our views that it is essential that these barriers, which the public sector is responsible for eliminating, are removed as quickly as possible in order to lower the costs of cross-border clearing and settlement.


Comments: (0)

Comment on this story (membership required)

Related company news

 

Related blogs

Create a blog about this story (membership required)
visit www.swift.com/your-needs/instant-paymentsVisit http://info.nice.comvisit www.nextgenbanking.co.uk

Top topics

Most viewed Most shared
ABN Amro moves escrow accounts to the blockchainABN Amro moves escrow accounts to the bloc...
10049 views comments | 15 tweets | 13 linkedin
ECB launches staunch defence of cashECB launches staunch defence of cash
9671 views 10 comments | 22 tweets | 26 linkedin
Coinbase and Visa at loggerheads over erroneous charges on customer crypto accountsCoinbase and Visa at loggerheads over erro...
8440 views comments | 13 tweets | 12 linkedin
FCA explores creation of global sandboxFCA explores creation of global sandbox
7665 views comments | 19 tweets | 18 linkedin
BBVA-backed digital banking startup targets gig economy workersBBVA-backed digital banking startup target...
7094 views comments | 8 tweets | 12 linkedin

Featured job

Competitive base + commission
London, UK

Find your next job