25 April 2006

FESE response on Market Transparency Data

FESE made public its response on CESR Call for Evidence an market Transparency Data underlining that as with all potential Level 3 work, it need to be very clear about the ultimate objectives pursued by the exercise, and respect a set of principles and objectives pursued by Level 1. FESE is clearly in favour of market-led processes of data consolidation over policy intervention.

With regard to the scope of CESR’s involvement or any scope of policy intervention in this area CESR’s scope has to be fully clarified. Also, CESR will need to be more specific about the need for and the expected net benefits of such intervention.

FESE does regard CESR to act as a forum allowing exchange of views among interested parties, but urges it to refrain from making recommendations with regard to technical standardization. Market forces should decide the outcome of any technical standardisation process.

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