Local view for "http://purl.org/linkedpolitics/eu/plenary/2012-10-25-Speech-4-366-000"

Predicate	Value (sorted: default)
rdf:type	lpv_eu:Speech2
dcterms:Date	"2012-10-25"^^xsd:date2
dcterms:Is Part Of	lp_eu:Markets in financial instruments and repeal of Directive 2004/39/EC - Markets in financial instruments and amendment of the EMIR Regulation on OTC derivatives, central counterparties and trade repositories (debate)2
dcterms:Language	"hu"^^xsd:language2
lpv:document identification number	"en.20121025.28.4-366-000"2
lpv:hasSubsequent	lp_eu:2012-10-25-Speech-4-367-0002
lpv:speaker	lp:Ildikó Gáll-pelcz2
lpv:spokenAs	member; ECON (2012-01-19--2014-06-30)3 member_of_the_bureau; EPP (2010-11-16--2014-06-30)3 substitute; Delegation for relations with Japan (2010-06-30--2014-06-30)3 unknown; Fidesz-Magyar Polgári Szövetség-Keresztény Demokrata Néppárt (2010-06-02--2014-06-30)3 member; Delegation to the EU-Croatia Joint Parliamentary Committee (2010-07-05--2013-06-30)3 substitute; IMCO (2012-01-19--2014-06-30)3
lpv:translated text	"Mr President, first of all I would like to thank Mr Ferber for both of his reports as they contain thorough and excellent work. It became clear during the crisis just how complex and completely untransparent certain financial activities and products have become. New commercial venues and products have appeared extremely quickly, while technological developments such as high-frequency algorithmic trading have also introduced changes into the financial services market. We as legislators have to respond to these in the interests of both citizens and the profession. This is why I welcome the fact that the proposed framework strengthens and harmonises the activities of investment enterprises in this direction as well as the powers of authorities supervising the markets of financial instruments. This also lays particular emphasis on cross-border cooperation. It is important that the supervisory authorities are capable of handling undesired market influences or even threats. In this respect I firmly support the strong role for the European Securities and Markets Authority as proposed within the framework. We must not forget the risk that high-frequency trading may imply for the liquidity or even efficiency of the financial markets – which is particularly relevant in crisis situations. For this reason I believe the changes that introduce proper organisational security mechanisms for trading locations are important. In the light of the problems experienced by SMEs recently in gaining access to finance, and assuming that such difficulties will re-emerge when the markets come under stress again, it is high time to establish trading locations that specialise in SME issues. I agree with Commissioner Barnier’s earlier statement that we have to make sure that the financial markets support the real economy, and not the other way round. My congratulations once more to the rapporteur, and I will vote in favour of the report too."@en1
lpv:videoURI	<go to Events_and_structure europarl>2

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