The European Union (EU) may ask exchanges to share data with clearing houses operated by rival companies to remove commercial barriers that block competition for handling trades, Bloomberg reports. A European Commission document requires trading venues to provide data access on a transparent and non-discriminatory basis.
The document will also require banks and trading facilities to publicize bid and offer prices and the depth of trading interests for bonds and derivatives for increasing transparency in markets previously subject to fewer regulations. The document suggests that the European Securities and Markets Authority impose position limits on traders in crisis situations.
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