European Commission 4 May 2017, COMMUNICATION FROM THE COMMISSION TO THE EUROPEAN PARLIAMENT, THE COUNCIL AND THE EUROPEAN CENTRAL BANK Responding to challenges for critical financial market infrastructures and further developing the Capital Markets Union

EUROPEAN COMMISSION Brussels, 4.5.2017 COM(2017) 225 final COMMUNICATION FROM THE COMMISSION TO THE EUROPEAN PARLIAMENT, THE COUNCIL AND THE EUROPEAN CENTRAL BANK Responding to challenges for critical financial market infrastructures and further developing the Capital Markets Union 1/ Introduction The financial crisis demonstrated that the lack of transparency in the derivatives sector and the