Brussels, 05/08/2004 (Agence Europe) - The European Central Bank (ECB) has taken position on the European Commission's draft framework directive in the field of "back-office" operations (see EUROPE of 29 April, p.11). In its communication, the Commission gave interested parties till 30 July to make their stances known concerning clearing and settlement allowing for the transfer of property and the payment of a share after agreement has been reached between the buyer and the seller.
The aim...