What must be prioritised for the financial sector over the next five years
For the EU to maintain its competitive edge globally, the von der Leyen II Commission must focus on balancing regulatory simplification with forward-looking strategies in capital market integration, bank competitiveness, digital finance and sustainability. Despite significant growth, Europe’s financial system remains predominantly bank-centric compared with more market-oriented systems. Initiatives like the Capital Markets Union and […]
Staying ahead of the curve
A comprehensive review of the financial services landscape is necessary for the EU to address structural inefficiencies, ensure market dynamism and support long-term economic growth. The report emphasises that while Europe’s financial system has expanded in size and complexity, and there have been efforts to diversify and integrate financial markets, progress remains uneven, with fragmented […]
Why we need to rewire Europe’s financial sector – to end fragmentation and bolster integration
If Europe wants to stay ahead of the curve and be able to follow – and eventually lead – its international counterparts, the new European Commission should have a focused agenda that balances regulatory simplicity with forward-looking strategies. This is particularly the case in capital market integration, bank competitiveness, digital finance and sustainability. Over the […]
Closing the gaping hole in the capital market for EU start-ups – the role of pension funds
Pension funds play a strategic role in our societies by providing protection and peace of mind to both consumers and businesses. As large long-term institutional investors, pension funds contribute significantly to the European economy’s growth and the development of capital markets. At the same time, young, small, fast-growing and innovative companies are key to Europe’s […]
The future of derivatives clearing – finding the right balance between efficiency and resilience?
Whereas EMIR 3.0’s main focus was geared towards the Active Account Requirement and whether or not to centralise the supervision of EU CCPs with the European Securities and Markets Authority (ESMA), regulators and market participants would be ill-advised to let discussions over third-country CCP equivalence issues and supervision of CCPs distract them from other important […]
Analysis of developments in EU capital flows in the global context (2023)
With the start of the war in Ukraine, geo-economics and the risks of economic fragmentation are at the centre of the debate. A fast-evolving scenario has unveiled the extent of global interdependence and intricate interconnections through trade linkages, value-chain exposure and cross-border investment. Risks associated with supply-chain disruptions and the weaponisation of trade dependencies could […]
How To make Capital Markets Union work
Europe has a high rate of savings and using those savings to increase productive investment is the right approach. However, Capital Markets Union (CMU) will not do this simply by removing barriers to competition in the European single market. The reason is that nearly all financial markets activity in the world today is carried out […]
ECMI Statistical Package – Key findings
This report provides an overview of the key findings of the ECMI Statistical Package 2021, a comprehensive collection of the most relevant data on various segments of European and global capital markets. It enables users to trace trends so as to highlight the ongoing transformation of capital markets, including the structural changes brought about by competitive forces, […]
2020 ECMI Statistical Package: key findings
This report provides an overview of the key findings of the ECMI Statistical Package 2020, a comprehensive and annually updated database on the dynamics of European and global capital markets (covering China, Japan, the US and other relevant markets).* The key trends gleaned from the package on equity markets, debt securities, exchange-traded derivatives (ETD), over-the-counter (OTC) derivatives […]
How crisis-proof are financial market infrastructures?
The pandemic has caused unprecedented volatility in the financial markets. The corporate sector has been hit by supply disruptions and weak demand. Amid such turbulence, providers of infrastructure services for financial markets, such as exchanges, clearinghouses, trade depositories and custodians, financial data, and technology providers, are vital to providing robust and stable platforms and operations […]