Regulators need to do more to ensure post-trade clearing and settlement can occur across borders, according to the new report by the European Commission’s Clearing and Settlement Advisory and Monitoring Expert Group.
“The CESAME Group has played a crucial role in efforts to remove these barriers to post-trading, which should ultimately lead to lower costs for European businesses. Its report shows clearly the achievements and the remaining shortcomings within this crucial sector, and I particularly welcome the standards that the Group has promoted. This thorough stock-taking fits well into the Commission’s efforts to advance to a more efficient and secure European post-trading environment. It is also a good example of how stakeholder consultation works within the framework of better regulation,” says Internal market and Services Commissioner Charlie McCreevy.
Click here for the full report.
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