EU lawmaker wants draft securities law beefed up
LONDON (Reuters) - Banks should be banned from giving outside brokers direct access to markets as part of a crackdown on computerised high frequency trading, a European Parliament report said on Monday. The report was the assembly's initial response to a draft law aimed at reining in computerised or algorithmic trading and other advances in technology which have made it harder for supervisors to see the full picture. The European Commission, the EU's executive, proposed the draft law, known as MiFID II, last year and it is now before parliament and EU states for approval, with changes ...
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