This proposal encountered some opposition, however, as it was considered likely to put excessive strains on the free development of competition. For my part, I should like principally to recall the suggestion made by some that we should foster the use amongst market service providers of safe and secure procedures which are able to limit the risks of gridlocks in financial markets.
This brings me to the final item in my short list of issues. Over recent months, there has been an acceleration of the pace of change in the infrastructure of financial markets in the euro area. As I mentioned earlier, these changes have brought about a number of benefits for market participants.