On 7 November 2006, trading and post-trading infrastructures signed the Code of Conduct on clearing and settlement. The Code aims to enhance transparency and increase competition in the post-trading sector.
To monitor implementation of the Code, the Commission set up the Monitoring Group of the Code of Conduct on Clearing and Settlement (MOG). MOG was chaired by the Commission and consisted of representatives from Internal Market and Services DG (MARKT), Economic and Financial Affairs DG (ECFIN) and Competition DG (COMP) as well as the European Central Bank (ECB) and the Committee of European Securities Regulators (CESR). The group was wound up in 2010.