Local view for "http://purl.org/linkedpolitics/eu/plenary/2012-03-29-Speech-4-313-750"

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"en.20120329.36.4-313-750"2
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"I supported the new regulation on over-the-counter (OTC) derivatives. In this context of economic crisis, I believe that it is essential to reform our economy. Unlike stock market transactions, OTC derivative contracts are often less standardised and take place within a more flexible regulatory framework. I therefore voted in favour of this regulation on European market infrastructures, which obliges traders to report all transactions involving derivatives to trade repositories within 24 hours of the transaction. However, because I am an active supporter of small and medium-sized enterprises, which are the heart of our economic fabric, I felt that it was important to protect them. The clearance requirement has been suspended, notably for development banks, cooperative banks, small banks, pension funds, EU bailout funds and transactions between members of the same group of companies."@en1

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