ACI-The Financial Markets Association has released the final Report of the Euribor-ACI Short Term European Paper (STEP) Task Force.
The integration of Europe’s financial markets is a prerequisite to reap the full benefits of the single currency, in particular by facilitating an optimal allocation of capital across the European Union. The markets for short-term debt instruments are comparatively less integrated than other segments of the euro-denominated money market. The final Report contains some practical recommendations aimed at fostering the convergence of the heterogeneous market standards and practices that currently prevail in the segmented European short-term markets.
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