[Ferro-Alloys.Com]Members of the European Parliament have voted in favour of sweeping limits on financial transactions, including curbs on high frequency trading.

MEPs, at their plenary session in Strasbourg, voted for a position on draft laws that they will now take into negotiations with European Union member states.

Many of the measures supported by MEPs in their position on the draft markets in financial instruments directive and regulation (Mifid and Mifir) are aimed at protecting consumers and increasing transparency.

Mr Markus Ferber, a centre-right German MEP who led the Parliament's work on the subject said “There is no risk free financial market, but where there is financial trade it should take place on regulated markets and be connected to the real economy.’

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