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“The European securities infrastructure must reduce cost and risk and increase its efficiency to be internationally competitive”, Werner Frey, CEO of the European Securities Forum (ESF) said. “Whilst competitive within national boundaries, the European infrastructure is highly fragmented.”
“A European solution will hardly be a carbon copy of the US nor is the objective of an integrated European capital market consistent with a green field approach. It will have to take into account existing diversities in Europe without losing sight of the goal of an integrated process for clearing and settlement.”
“To achieve the objective of an integrated securities infrastructure in Europe a more thorough, persistent and pragmatic approach is required. The task is far from being neither simple nor completed in a short time.”
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