Local view for "http://purl.org/linkedpolitics/eu/plenary/2003-09-23-Speech-2-327"

Predicate	Value (sorted: default)
rdf:type	lpv_eu:Speech2
dcterms:Date	"2003-09-23"^^xsd:date2
dcterms:Is Part Of	lp_eu:Investment services and regulated markets2
dcterms:Language	"de"^^xsd:language2
lpv:document identification number	"en.20030923.11.2-327"2
lpv:hasSubsequent	lp_eu:2003-09-23-Speech-2-3282
lpv:speaker	lp:Christa Randzio-plath2
lpv:spokenAs	substitute; Committee on Industry, External Trade, Research and Energy (2002-01-17--2004-07-19)3 substitute; Committee on Women's Rights and Equal Opportunities (2002-01-17--2004-07-19)3 member; PES (1999-07-20--2004-07-19)3 member; Conference of Committee Chairs (2002-01-22--2004-07-19)3 chair; ECON (2002-01-22--2004-07-19)3 unknown; Sozialdemokratische Partei Deutschlands (1999-07-20--2004-07-19)3 member; Delegation for relations with the Member States of ASEAN, south-east Asia and the Republic of Korea (2002-02-07--2004-07-19)3
lpv:translated text	"Mr President, the negotiations on the directive on investment services and regulated markets have once again shown how difficult it is to bring together the different European market philosophies and traditions, in particular the continental model of stock exchanges, which have in the meantime lost their public-private character to a large extent and have been privatised, and the investment banks’ new internal trading systems. To allow these two systems to coexist at European level and to organise fair competition as well as protecting the interests of investors at the same time is a difficult task, and that will become particularly clear when we see what high sums are transferred every day and what effects the development of the financial markets will have on European and world economies. That being so, I hope that the compromise, which was reached through very tough negotiations in the Committee on Economic and Monetary Affairs, will encourage the Council to come to similar compromises so that this important legislative act on implementing an integrated financial services market can actually be passed in this term. I believe that we have tried to consider the interests of all market participants, including non-professional investors, and that we have implemented the principle of transparency in all key areas, just as the Commission intended. For example, in the interests of price transparency and investor protection, it is necessary that contracts limited to internal trading systems, if they cannot be carried out by the internaliser directly, can be directly transferred to the regulated markets, unless the customer explicitly rules this out. A quick transfer offers the best chances for the best possible completion of the contract in the interests of the customers. I thereby believe that we have reached the right decision in this House, as is the case for the disclosure requirements in Article 25. I hope that with this directive competition of all trading systems will have a chance without the protection of investor interests being neglected."@en1

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