CESR started a consultation on non-equity transparency adding to its call for advice on non-equity market transparency issued in February. The responses to the call for evidence appear to indicate that any approach to transparency obligations should start by dealing with the differences between shares and cash bond markets, the specific and different needs of market participants in the bond markets and the extent to which there are indications of market failures that would justify regulatory intervention.
The aim of this paper is to set out CESR's views on the questions posed and to improve our understanding on some points of detail.
CESR will hold a public hearing on 30 May in Paris.
Deadline for comments is 8 June 2007.
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© CESR - Committee of European Securities Regulators
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