Past Events

CEPS - Centre for European Policy Studies, 1 Place du Congrès/Congresplein, 1000 Brussels

How the financial industry and supervisors deal with the new regulatory framework for data (obligation to supply financial instruments reference data, pre- and post-trade transparency, transaction reporting, best execution, consolidated tape etc.) will largely determine the transition to a MiFID II-compliant environment. The volume and nature of the data to be processed, the complexity of the analytical processes, and stringent reporting requirements present great challenges ahead.

The Federation of European Securities Exchanges (FESE) is delighted to announce the launch of the Josseph de la Vega Prize 2017. The Prize will award an outstanding research paper related to the securities markets in Europe.

Papers about current developments in European securities markets are particularly welcome.

CEPS - Centre for European Policy Studies, 1 Place du Congrès/Congresplein, 1000 Brussels

Gustav Mahlerlaan 10, Amsterdam, The Netherlands

The use of central counterparties (CCPs) has increased markedly in recent years. The decision to shift from bilateral to central clearing of standardised over-the-counter derivatives concentrates risks in a couple of CCPs, which has potentially negative effects on the financial sector and the broader economy in the unlikely event that a CCP fails.

CEPS - Centre for European Policy Studies, 1 Place du Congrès/Congresplein, 1000 Brussels

Between 2011 and 2015, global investment in FinTech increased eightfold. Resulting from the use of enabling digital technologies, new products and processes are being developed by “traditional” providers and by ever-rising numbers of FinTech startups. While policy-makers are gradually creating the necessary conditions to strengthen this digital transformation of financial services, numerous policy issues and unanswered questions remain. Against that background, CEPS, ECRI and ECMI are jointly organising their Annual Conference on “Developing the FinTech ecosystem: the challenges of regulation, innovation and digitalisation”.

CEPS - Centre for European Policy Studies, 1 Place du Congrès/Congresplein, 1000 Brussels

Under MiFID I transparency requirements were limited to equity instruments. MiFID II substantially expanded the scope of this transparency to cover also non-equity instruments. The full list includes shares; depositary receipts; exchange traded funds; certificates and similar instruments (equity-like instruments); bonds; structured finance products; emission allowances and traded derivatives (non-equity instruments). Such instruments can be traded not only on regulated markets (RMs), but also to multilateral trading facilities (MTFs), organised trading facilities (OTFs), and Systemic Internalisers (SIs). It remains to be seen how and to what extent the new transparency requirements will affect the current market structure.

CEPS - Centre for European Policy Studies, 1 Place du Congrès/Congresplein, 1000 Brussels

The Capital Markets Union (CMU) Action Plan set out a programme of actions aiming at overcoming information barriers that prevent SMEs and prospective investors from identifying new opportunities to secure funding and to make investments, respectively. 

  1. Strengthening the feedback given by banks when turning down credit applications from SMEs, in order to allow rejected SMEs to adjust their business model to have better access to external funding;
  2. Mapping local or national support and advisory structures across the EU to promote best practices in assisting SMEs; and
  3. Investigating how to develop or support pan-European information systems that link up national systems to bring finance-seeking SMEs together with finance providers

CEPS - Centre for European Policy Studies, 1 Place du Congrès/Congresplein, 1000 Brussels

From a historical perspective, interest rates have been on a downward trend over the past four decades. In Europe, the financial and sovereign debt crises and the ensuing weak macroeconomic environment – persistent output gap, low growth and excessively low inflation – together with the expansionary monetary policy responses, in particular QE, have contributed to a further decline in interest rates.

National Bank of Belgium boulevard de Berlaimont 14 1000 Brussels

The Annual Conference of the European Capital Markets Institute (ECMI) is a landmark event in Brussels, bringing together policy-makers, academics and international experts to discuss salient issues in the integration of EU capital markets and global financial reform.

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