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Change mooted for EU clearing and settlement

BRUSSELS -- Members of the European Parliament have begun consideration of a new directive that would seek to improve clearing and settlement arrangements within the EU.

At a session of the Economic and Monetary Affairs Committee in late November, a communication from the European Commission to the European Council and the European Parliament was introduced, and members of the European Parliament commented on its contents.

The issue of harmonising the clearing and settlement framework in the EU has been a prominent one over the past 18 months -- the Giovannini

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