Apcims attacks stock exchanges

The Association of Private Client Investment Managers and Stockbrokers (Apcims) has told the European Commission that stock exchanges are trying to stifle competition.

It claims stock exchanges are using consumer protection as an excuse to hold back other trading methods, thereby increasing trading costs.

In its submissions concerning proposals for revisions to the Investment Services Directive, the pan-European directive which governs all investment firms, European stock exchanges are advocating