A valve, which is characterized in that between a neutral position (38) of a control spool (STS) and one of its end positions (34, 42) a regeneration position (36) is provided. In the regeneration position, two utility ports (A, B) are interconnected in a fluid-conveying manner, or a floating position (40) is provided, in which these utility ports (A, B) are interconnected in a fluid-conveying manner. A further valve is characterized in that by a further motion of the control spool (STS) in the same direction, as that, in which a fluid connection is established between the utility ports (A, B) starting from the neutral position (38), this fluid connection is interrupted.