09/15/10

European Commission to Draft Rules on Wild West Trading

BBC online reports on Wednesday, the European Commission has put forth a draft of rules on trading in what it calls "Wild West territory," or intricate financial products. The Commission wants to put a watchdog in place to monitor the derivatives market for products that are not purchased, but are used to make bets on assets. European Commission officials also want to take a look at short-selling, which some say that along with derivatives, have contributed to the eurozone's debt crisis.

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European Commission to Draft Rules on Wild West Trading

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