Osborne backs giving investors choice in trade clearing

03/5/2013 | Reuters · Bloomberg · Wall Street Journal, The

At a meeting of EU finance ministers, UK Chancellor George Osborne supported a proposal to give investors a choice of where they clear stock, bond and derivative trades. The measure is part of the revised Markets in Financial Instruments Directive. Osborne also reiterated UK opposition to an EU plan to require nations to develop a bank-financed resolution fund that would step in when a bank is collapsing.

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