Local view for "http://purl.org/linkedpolitics/eu/plenary/2012-10-25-Speech-4-375-000"
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"Mr President, I seldom have the opportunity to praise Mr Ferber in a plenary session as highly as I can today, since he has done very good work. The compromise position he has produced, which has been accepted unanimously, is the result of multifaceted negotiations. Very well done.
I have three points to make. The first is on the issue of position limits. The solution that has been found, which is obviously still being attacked from without, is the right way: we must not throw the baby out with the bathwater and make the negative side-effects for agricultural trade, which this solution certainly contains, responsible for world hunger. If we resolve position limits as Mr Ferber suggests, we are on the right track.
My second point concerns the compromise position on banning commissions, which was tabled at the last minute. As currently formulated, this could change the market considerably. As rapporteur for insurance mediation, I would preferred it if, in this position, this issue had been left to the Member States, since there are different systems. To write that commissions should be banned across the board goes too far for me, since it will entail a process of vertical concentration.
Thirdly, high-frequency trading: it has already been mentioned that there are many people in the sector who are against the compromise position. However, I think it is right that high-frequency trading should be slowed down, otherwise in the future computer systems and powerful computers will manipulate the financial market even more than before. Further work, which was not possible in MIFID, needs to be done on this, but the rapporteur will be able to achieve something more in the pending negotiations."@en1
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"en.20121025.28.4-375-000"2
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