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The Commission published a recommendation that aims to create an electronic network interconnecting the national repositories which store financial information on listed companies. This recommendation encourages Member States to take the necessary steps in order to interconnect these central depositories. This network should be electronic and its members should respect some minimum standards of security, certainty as to the information source, time recording and easy access by end users. The recommendation foresees an important role for CESR in launching the electronic network.
The Transparency Directive requires that regulated financial information remains available to market participants at central depositories appointed nationally by Member States.
CESR has been invited to reflect, by September 2010, on the future development of this pan-European network.