Local view for "http://purl.org/linkedpolitics/eu/plenary/2012-10-26-Speech-5-252-500"
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"en.20121026.23.5-252-500"2
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".
We Moderates are voting today in favour of two reports concerning the rules relating to financial marketplaces and the trading of financial instruments (MiFID and MiFIR). We have done this because we believe there is a need for updated and improved legislation in connection with this, particularly through greater transparency and openness. However, there are three areas that we continue to remain sceptical of. The first concerns competition between clearing houses in connection with a completed transaction. As the proposal is currently worded, there is a risk that competition may be restricted, which would be to the detriment of both the way in which the market functions and individual investors. The second matter concerns the trading of commodity-related instruments, concerning which more restrictions are being introduced which could have an adverse effect on pricing. Finally, the third matter concerns high-frequency trading, where the current formulation of the proposal aims to regulate technical development rather than any elements of market abuse that could arise in the wake of this development. We believe that technical development should be accepted, while abuse and irregularities should instead be addressed with stricter supervision."@en1
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