Central Banking

McCreevy says cross border clearing cost must fall

Charlie McCreevy, the European Union internal market commissioner, said on Tuesday 13 September action will be taken against Europe's financial services industry if it fails to slash the costs of cross- border trading in securities within six months.

"Cross-border trading remains expensive, sometimes prohibitively so. Cross-border clearing and settlement costs can be up to six times more than those of domestic settlements ... we are talking about big money," he will say.

"The Commission is taking

Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.

To access these options, along with all other subscription benefits, please contact info@centralbanking.com or view our subscription options here: http://subscriptions.centralbanking.com/subscribe

You are currently unable to copy this content. Please contact info@centralbanking.com to find out more.

Sorry, our subscription options are not loading right now

Please try again later. Get in touch with our customer services team if this issue persists.

New to Central Banking? View our subscription options

Register for Central Banking

All fields are mandatory unless otherwise highlighted

This address will be used to create your account

Most read articles loading...

You need to sign in to use this feature. If you don’t have a Central Banking account, please register for a trial.

Sign in
You are currently on corporate access.

To use this feature you will need an individual account. If you have one already please sign in.

Sign in.

Alternatively you can request an individual account

.