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Enhancing EU capital market competitiveness: is enough being done?

Enhancing EU capital market competitiveness: is enough being done?

Day 2 Morning

Thursday 27 April

Room :

ROOM 1

Speakers

Chair
Harald Waiglein
Director General for Economic Policy, Financial Markets and Customs Duties & Member of the Board of Directors, ESM - Federal Ministry of Finance, Austria
Public Authorities
Natasha Cazenave
Executive Director - European Securities and Markets Authority
Pierre Chabrol
Head of the Savings and Financial Market Office - Ministry of the Economy, Finance and Industrial and Digital Sovereignty, France
Olaf Sleijpen
Member of the Board, Executive Director of Monetary Affairs - De Nederlandsche Bank
Industry Representatives
Jan Boomaars
Global Chief Executive Officer - Optiver
Stéphane Boujnah
Chief Executive Officer and Chairman of the Managing Board - Euronext
Francesco Ceccato
Chief Executive Officer - Barclays Europe

Objectives

The first objective of this session is to take stock of the current level of competitiveness of the EU capital market ecosystem and of its strengths and weaknesses and to identify the main issues and drivers that need addressing to enhance competitiveness.
Secondly, the panel will discuss the effects that can be expected in terms of competitiveness from the initiatives under way to further develop and integrate EU capital markets (CMU action plan, Eurosystem projects…), whether a stronger emphasis needs to be put on competitiveness in these initiatives and the potential improvements that can be expected from market evolutions such as a digitalisation and infrastructure consolidation. Finally the panel will assess the importance of the connection of EU capital markets to the global market ecosystem and international capital pools for providing sufficient capacity and liquidity for capital market finance in the EU.

Points of discussion

  1. How competitive are EU capital markets at present, how is the situation evolving and what are the implications for market participants and the funding of the EU economy? What are the main strengths and weaknesses of the EU capital market ecosystem? In which areas does the competitiveness of the EU capital market ecosystem need improving most and what are the obstacles to overcome? Is further integration of EU capital markets a major driver of competitiveness?
  2. What enhancements in terms of competitiveness can be expected from the CMU action plan, trading and post-trading regulations and on-going actions led by the Eurosystem? Should this objective be further emphasized in these initiatives and are any additional policy measures needed? Can digitalization play a significant role in fostering competitiveness and are EU digital policy measures adequately supporting this objective? Does the connection of EU capital markets to the global market ecosystem need improving?