Brussels, 13/06/2006 (Agence Europe) - On 12 June, the Commission called on all interested parties to give their views on pre- and post-trade transparency with regard to financial instruments other than shares. Responses will assist the Commission in drawing up a report, due by the end of October 2007, on the need (if any) for new requirements in this area. The draft report will be subject to public consultation and will be discussed at a hearing in Brussels.
In a press release, the Commission says it intends to prioritise cash bond markets, related derivatives markets and asset-backed securities markets. Interested parties are to give their views on whether the right priorities have been proposed and whether it is necessary to increase transparency in these markets through a European initiative. The call has been launched within the framework of directive 2004/39/EC, better known as the “MiFID” directive. Member States have until 1st November 2007 to implement this directive. The call for evidence is available at: http: //ec.europa.eu/internal_market/securities/isd/mifid_reports_en.htm