FESE supports the adoption of a code of practice for the clearing and settlement of equities. “The creation of a European integrated clearing and settlement system requires market-led rather than legislative initiatives”, the Federation says. “A roadmap should be agreed by 31st October to ensure optimal market solutions driving significant improvements for the industry.”
FESE supports to include elements such as price transparency, interoperability and separate accounting in the code of practice. In addition, the industry expects the continued commitment by the Commission to work towards the removal of tax and legal barriers to efficient cross-border clearing and settlement which are largely responsible for the high costs of cross border clearing and settlement.
Press release
© Association of Consulting Actuaries
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