EU Sets Landmark Deal To Strengthen Financial Transactions

European Union lawmakers clinched a deal that overhauls the bloc’s financial-market rulebook in a bid to toughen requirements and remedy deficiencies laid bare in the 2008 financial crisis.

The bill includes curbs on high-frequency trading and commodity-derivative speculation, as well as measures to push more activity onto regulated platforms. The accord follows more than two years of work on the plans since they were presented by Michel Barnier, the EU’s financial services chief.

“These new rules will improve the way capital markets function to the benefit of the real economy,” Barnier said in an e-mailed statement. “They are a key step towards establishing a safer, more open and more responsible financial system and restoring investor confidence.”

Bloomberg

This article is for general information purposes only. It is not investment advice or a solution to buy or sell securities. Opinions are the authors; not necessarily that of OANDA Corporation or any of its affiliates, subsidiaries, officers or directors. Leveraged trading is high risk and not suitable for all. You could lose all of your deposited funds.