NYX Nyse Euronext

Exchange operator Deutsche Boerse AG (DB1.XE) and U.S. peer NYSE Euronext (NYX) Thursday said they welcome proposals by the European Commission to amend the EU's Markets in Financial Instruments Directive, known as MiFID.

The exchanges, which are in the process of merging, said, "The proposed amendments will lead to safer, sounder and more transparent financial markets in Europe," thus contributing to the Group of 20 industrialized and developing commitment from September 2009.

Deutsche Boerse said it agrees with the proposed mandatory trading of derivatives on organized trading venues, and improved trading transparency across a broad range of financial instruments including derivatives.

"This will align European regulatory efforts with the respective requirements in the U.S. outlined by the Dodd-Frank Act."

It also supports rules on organizational requirements, transparency and authorization of organized trading facilities, to ensure there aren't any loopholes in a more organized trading of over-the-counter derivatives.

"As regards derivatives markets, we very much welcome the suggestions proposed by the EU Commission to extend pre- and post-trade transparency to derivatives, and to bring more derivatives trading onto organized venues such as regulated markets, multilateral trading facilities, or MTFs, and organized trading facilities, or OTFs, thereby strengthening competition," said Andreas Preuss, deputy chief executive of Deutsche Boerse.

-By Ulrike Dauer, Dow Jones Newswires; +49 69 29725 500; ulrike.dauer@dowjones.com

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