Financial market infrastructures (FMIs) are the backbone of the financial system: they enable market participants to transact with one another in an efficient manner. FMIs are inherently systemic, as their very names imply: payments systems, central securities depositories (CSDs), securities settlement systems (SSSs), central counterparties (CCPs) and trade repositories (TRs).
After a year-long exercise with a wide group of stakeholders, including academics, policy-makers and industry experts, CEPS and ECMI will launch the final report of the European Capital Markets Expert Group (ECMEG): Europe's Untapped Capital Market: Rethinking Integration After the Great Financial Crisis.
Commodities markets are the engine of the global economy. Easy access to commodities can boost economic growth and competitiveness. A new ECMI-CEPS Task Force report, authored by ECMI head of research Diego Valiante, looks into the price formation of 11 commodities markets.
Following the entry into force of the EMIR regulation and the technical standards issued by the European Securities and Markets Authority (ESMA), market participants are dealing with a complex list of requirements to be fulfilled at different deadlines in the coming months.
The asset management industry has become the object of intense regulatory action in the past five years, with three objectives: safeguard financial stability, stimulate market-based finance and improve investor protection. The European Commission has been at the centre of this process, which it strives to complete before its current mandate ends.
"Investment banks can save funding costs by running synthetic exchange traded funds that use derivatives to track indices, according to the BIS.