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ECMI Newsletter 05-2007

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The Future of Europe's Financial Centres

ECMI Policy Brief 10, December 2007: The intention of this article by Karel Lannoo is to subject European financial centres to a SWOT analysis, assessing their Strengths, Weaknesses, Opportunities and Threats. We start with a closer definition of the term financial centre and a classification of the different kinds of financial centres found in Europe.

Financial supervision is not well served by half-baked solutions

ECMI Commentary 16, January 2008: In this commentary, ECMI's Chief Officer Karel Lannoo argues that the problems encountered with the exchange of supervisory information amongst authorities, the delegation of supervisory tasks, the need for an authority to be capable of exercising an EU-wide mandate and take EU-wide supervisory decisions, all call for substantial changes to the current set-up, allowing for full transparency and clarity in the division of responsibilities.

Changing Financial Markets. The Internationalisation of Banking and Financial Services

29/01/2008 00:30
29/01/2008 15:45

 

The 6th Annual European Financial Services Conference hosted by Assonime, Houston Consulting Europe and Merrill Lynch.

 

Integrating Europe's back office

30/01/2008 10:00
30/01/2008 12:30

 

ECMI organised a Roundtable Event to ­discuss the current proposals to integrate the European post-trade infrastructure, with specific regard to Target 2 Securities (T2S) and the Code of Conduct on Clearing and Settlement. The T2S settlement system will act as a driver to promote harmonization within ­the European securities industry, creating opportunities for cost savings and allowing market participants to select post-trade partners irrespective of their location within the single market.

Europe Post-MiFID: Capital Markets in a State of Flux

24/10/2007 12:00
24/10/2007 16:00

 

November 1, 2007 has marked the beginning of a new era in European securities markets, as a result of the entry into force of the MiFID Directive, altering the structure of European financial markets, in a way that possibly no other piece of EU legislation had done so far.

ECMI Newsletter 04-2007

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Banking Supervision returns to the forefront

ECMI Commentary 14, September 2007: The unfolding crisis in Europe's financial markets is presenting the EU's regulatory and supervisory set-up with its first big test, revealing worrying differences in responses to stress, flaws in the enforcement of rules and gaps in the supervisory framework. Although the evidence is limited so far, Karel Lannoo makes some clear-cut policy recommendations, which need to be urgently ddressed.

MiFID Revolution or Delayed Execution

ECMI Commentary 13, September 2007: MiFID portends a true revolution in the European financial landscape for both exchanges and financial services firms. Inter alia, the EU legislation abolishes the monopoly position traditionally enjoyed by exchanges and introduces the concept of best execution for service providers. In his survey of the state of preparedness on the part of both member states and firms to implement the MiFID provisions, CEPS Chief Executive Karel Lannoo finds huge diversity.

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