EMAC vote on Clearing and Settlement
03 December 2002
-EMAC voted on the Report on Clearing and Settlement. Key issues arising as a result of the questions posed by the European Commission in its Communication are:
The creation of one infrastructure via regulatory intervention appears to be a tempting proposition.
'Core' settlement services should be managed as public utility services, the reason being that these services are public interest services.
Creation of competitive level playing field.
Possible policy tools.
Priority for removal of barriers.
The creation of a securities code could be a long-term objective, but not one which it is practical to envisage in the short or medium term.
Supervisors in the Member States should cooperate between each other on a systematic basis.
Final Report
© European Parliament
