24 April 2006

EAPB response on consolidation of market transparency data

The EAPB issued its response to the CESR call for evidence on the on consolidation of market transparency data taking the view that a European wide maximum consolidation of market transparency data can only be planned as a further step after MiFID has been implemented and practical experiences on the feasibility are available. The association also regards the publication on the website of an investment firm as advantageous to investors with regard to speed, favourable prices and convenience.

More generally, the EAPB expresses its reservation with regard to Art 31 (b) of the draft Regulation. “EAPB could not identify any legal basis in the MiFID for Art 31 (b) of the draft Regulation. If, however, this provision is to be maintained in the ongoing law making procedure, EAPB does not see any call for action for CESR as self-contained mechanisms will emerge on the market as a result of competition.”

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