FESE - Code of Conduct for C&S - Unbundling & Acc. Separation

Wednesday Sep 08, 2010 Last Update: Wednesday Sep 08, 2010

August 2010 FESE Monthly Statistics Stock Exchange price index movements Stock Exchange total return index movements Stock Exchange traded index movements Market Capitalisation Listed Companies and Investment Flows Equity Turnover - Domestic Equity Turnover - Foreign Equity Turnover - Total YTD Top 5 most traded shares New Markets Covered Warrants ETFs UCITs Bond turnover - Domestic Public Sector Bond turnover - Domestic Non-Public Sector Bond turnover - International Bond turnover - Total Bond turnover YTD - Total Listed bonds Exchange rates Stock/Index Options and Futures Turnover Stock/Index Options and Futures YTD Turnover Bond Options and Futures Turnover Bond Options and Futures YTD Turnover

Unbundling & Acc. Separation

Service unbundling and accounting separation are important levers to further strengthen the transparency and efficiency of European capital markets. Service unbundling gives customers flexibility when choosing which services to purchase; accounting separation provides relevant information on the services provided. These measures are designed:

To make transparent the relation between revenues and costs of different services in order to facilitate competition,
To make transparent potential cross-subsidies between the different services as described in paragraph 40, and
To provide users with choice regarding the services available to purchase.


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