FESE chairman Christian Katz has said that European bourses should focus on how to implement new rules, after a wave of global regulation.
Regulators are rethinking the structure and oversight of European markets, including limits on the amount of trading that occurs on private venues known as dark pools, scrutinising computerised trading firms, evaluating whether market benchmarks are rigged, and considering a tax on trades. Consensus among banks, exchanges and regulators has proved elusive.
The public wants “safe, efficient, transparent markets", Katz said. “We have to live up to it. The industry groups and stakeholders -- that is, exchanges, banks, customers and the public -- should be less against each other and more together. There should be joint effort for capital market solutions. The industry needs to focus on implementation", Katz, said. “While we are in the final legs of MiFID, the lobbying is done, and it’s more about implementation. We need to focus on implementation, preferably joint implementation.”
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