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MarketScreener Homepage  >  Equities  >  London Stock Exchange  >  Barclays Plc    BARC   GB0031348658

BARCLAYS PLC

(BARC)
  Report
Delayed Quote. Delayed London Stock Exchange - 05/29 11:35:21 am
115.24 GBX   -6.02%
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EU tells traders working from home: take notes if you can't record calls

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03/20/2020 | 07:52am EDT
FILE PHOTO:  The German share price index DAX graph is pictured at the stock exchange in Frankfurt

The European Union's markets watchdog has told stock and bond traders working offsite because the coronavirus has shut their trading floors to take notes if they can't record telephone conversations with customers.

Under EU law, traders must record calls when trading. But banks have shut down their main trading floors, forcing dealers to work from back-up sites or even from home, where some may not be equipped to record calls.

Banks have complained they have been left largely in the dark by regulators over how to deal with such situations without falling foul of an EU securities law known as MiFID II.

"ESMA reminds firms of the MiFID II requirements in this area," the European Securities and Markets Authority (ESMA) said in a statement on Friday.

"ESMA also recognises that, considering the exceptional circumstances created by the COVID-19 outbreak, some scenarios may emerge where, notwithstanding steps taken by the firm, the recording of relevant conversations required by MiFID II may not be practicable."

This could be due to the sudden remote working by a significant part of staff, or the lack of access by clients to electronic communication tools, ESMA said.

If traders can't record calls then they could use written minutes or notes of telephone conversations when providing services to clients after telling customers there would be no recording and that notes would be taken, ESMA said.

"In these scenarios, firms should also ensure enhanced monitoring and ex-post review of relevant orders and transactions," the watchdog added.

By Huw Jones

Stocks mentioned in the article
ChangeLast1st jan.
BARCLAYS PLC -6.02% 115.24 Delayed Quote.-35.85%
DEUTSCHE BÖRSE AG -1.37% 147.9 Delayed Quote.5.53%
EURONEXT N.V. 0.67% 82.9 Real-time Quote.14.11%
HSBC HOLDINGS PLC -3.71% 370.1 Delayed Quote.-37.47%
LONDON STOCK EXCHANGE PLC -2.45% 8030 Delayed Quote.3.61%
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Financials
Sales 2020 21 025 M 25 956 M 25 956 M
Net income 2020 341 M 420 M 420 M
Net Debt 2020 - - -
P/E ratio 2020 71,4x
Yield 2020 1,76%
Capitalization 19 974 M 24 652 M 24 657 M
EV / Sales 2019
Capi. / Sales 2020 0,95x
Nbr of Employees 80 800
Free-Float 99,6%
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Technical analysis trends BARCLAYS PLC
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TrendsBullishBearishBearish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus OUTPERFORM
Number of Analysts 23
Average target price 146,76 GBp
Last Close Price 115,24 GBp
Spread / Highest target 126%
Spread / Average Target 27,3%
Spread / Lowest Target -71,5%
EPS Revisions
Managers
NameTitle
James Edward Staley Group Chief Executive Officer & Director
Nigel Paul Higgins Group Chairman
Mark Ashton Rigby Group Chief Operating Officer
Tushar Morzaria Group Finance Director & Executive Director
Timothy James Breedon Independent Non-Executive Director
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