8 Amendments of Anni PODIMATA related to 2010/2075(INI)
Amendment 2 #
Motion for a resolution
Recital A
Recital A
A. whereas the G20 set out that no financial institution, no financial product and no territory should remain outside the scope of intelligent regulation and effective supervision, and agreed that all standardised OTC derivative contracts should be traded on-exchanges or electronic trading platforms, where appropriate
Amendment 12 #
Motion for a resolution
Recital B
Recital B
B. whereas consumer protection and, transparency, efficiency and liquidity in the markets as well as competition on a level playing field were the key objectives when MiFID came into force, and whereas, following the financial crisis, limiting systemic risk must also be prioritised,
Amendment 19 #
Motion for a resolution
Recital B a (new)
Recital B a (new)
Ba. whereas the inclusion in the MIFID of waivers to pre trade transparency requirements and the establishment of MTF and dark pools intended to facilitate a shift towards more regulated and transparent venues; whereas the fact that a significant part of market trading remains OTC trading underlines that this objective is not met up until now;
Amendment 39 #
Motion for a resolution
Recital E
Recital E
E. whereas broker crossing networks (BCNs) can provide different services to regulated markets (RMs) and multilateral trading facilities (MTFs) in so far as they are closed systems and a technological extension of the traditional, discretionary broker-client relationship; whereas there are also clear cases where BCNs undertake the same function as an MTF or a SI and for which MIFID rules should fully apply,
Amendment 49 #
Motion for a resolution
Recital G a (new)
Recital G a (new)
Ga. whereas apart from their high risks on market liquidity and safety the significant increase of HFT strategies have transformed the role of markets in financial instruments from a providing real economy with adequate capital to a speculative trade with severe consequences for public and real economies,
Amendment 61 #
Motion for a resolution
Paragraph 1 a (new)
Paragraph 1 a (new)
1a. underlines that OTC trade remains a significant part of the markets in financial instruments which leads to continuous lack of transparency and liquidity risks; considers that MIFID review has to deal with that through better restructuring of the waiver preconditions and redetermining the conditions under which a venue should be regulated as an MTF or an SI;
Amendment 62 #
Motion for a resolution
Paragraph 1 b (new)
Paragraph 1 b (new)
1b. welcomes Commission's proposal for a Regulation on OTC derivatives, central counterparties and trade repositories as a necessary prerequisite to increase transparency and safety within the markets in financial instruments and considers it as the first step towards shifting the significant proportions of OTC trade to trade venues subject to MIFID regulation.
Amendment 92 #
Motion for a resolution
Paragraph 7
Paragraph 7
7. Calls for an investigation into a suitable volume threshold above whichthe functional requirements which when met BCNs would be required to convert to an MTF;