NYX Nyse Euronext

Exchange operator Deutsche Boerse AG (DB1.XE) and its U.S. peer NYSE Euronext (NYX) Thursday said they support proposals by the European Commission to amend EU-wide rules on investment services.

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."

The EU-wide rules known as the Markets in Financial Instruments Directive , or MiFID, aim to increase competition and consumer protection.

Deutsche Boerse said it agrees with EU proposals to make the trading of derivatives on organized trading venues mandatory and to improve trading transparency across a broad range of financial instruments.

The planned revision will align European regulation with the requirements in the U.S. outlined by the Dodd-Frank Act, it said. The Dodd-Frank Act was introduced in the U.S. in 2010 in response to the financial crisis and aims to promote financial stability by improving accountability and transparency in the financial system.

"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.

Preuss added that this will contribute to a preference for central clearing and trading infrastructures and will lower systemic risk. Eventually all trading venues should need to comply with MiFID market rules, he said.

Auditing firm PricewaterhouseCoopers AG said the amendments will have substantial impact on financial institutions, affecting trading methods, business strategies, data management and products offered.

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

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