3 Amendments of Neena GILL related to 2016/0034(COD)
Amendment 1 #
Proposal for a regulation
Recital 11a (new)
Recital 11a (new)
(11a) Investment firms often execute, on their own account or on behalf of clients, transactions in derivatives and other financial instruments or assets that comprise a number of interlinked, contingent trades. Such package transactions enable investment firms and their clients to better manage their risks, with the price of each component of the package transaction reflecting the overall risk profile of the package rather than the prevailing market price of each component. Package transactions can take various forms, such as exchange for physicals, trading strategies executed on trading venues, or bespoke package transactions, and it is important to take those specificities into account when calibrating the applicable transparency regime. It is therefore appropriate to specify for the purpose of Regulation (EU) No 600/2014 the specific circumstances in which pre-trade transparency should not apply to package transactions, nor to any individual component of such transactions.
Amendment 2 #
Proposal for a regulation
Article 1
Article 1
(-1) In Article 1, the following paragraph is inserted: ‘6a. Title II and Title III shall not apply to securities financing transactions as defined in Article 3(11) of Regulation (EU) 2015/2365.’ (-2) In Article 2(1), the following point is inserted: '(28a) ‘securities financing transaction’ or ‘SFT’ means a securities financing transaction as defined in Article 3(11) of Regulation (EU) 2015/2365;'
Amendment 3 #
Proposal for a regulation
Article 1
Article 1