E.U. Calls For Lower Costs Of Cross-Border Share Trades

Law360, New York (March 8, 2006, 12:00 AM EST) -- In a warning directed at stock exchanges and securities firms, European Union regulators said Tuesday that it would file antitrust lawsuits and impose new regulations unless the financial industry eliminates obstacles to competition in cross-border trades by July.

The European Commission said it aimed to reduce the costs of buying and selling securities across borders. Cross-border trades can be up to six times more expensive than domestic trades.

“The current fragmented national monopolies in trading infrastructures such as exchanges, clearinghouses and securities depositaries, create high costs...
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