Speakers
Chair
Rodrigo Buenaventura
Chair - Spanish Securities and Exchange Commission (CNMV)
Public Authorities
Verena Ross
Chair - European Securities and Markets Authority (ESMA)
Eva Wimmer
Director General - Federal Ministry of Finance, Germany
Industry Representatives
Francesco Ceccato
Chief Executive Officer - Barclays Europe
Nick Dutton
Chief Regulatory Officer - Cboe Europe
Virginie Saade
Head of Government & Regulatory Policy, EMEA - Citadel
Tarek Tranberg
Head of Government Relations, Europe - Optiver
Objectives
The first objective of this session is to clarify how competitiveness can be defined in the capital market and why it matters and to evaluate the current strengths and weaknesses of EU capital markets in this regard.
Secondly, the panel will discuss how the competitiveness of EU capital markets can be improved, whether the actions underway (MiFIR review, CMU actions, initiatives in the post-trading space) are likely to have a significant impact in this regard and whether further policy measures are needed to enhance competitiveness.
Finally the panel will assess whether changes are needed in the way policy-making and supervision are conducted in the EU and regulations are enforced to foster a greater competitiveness of EU capital markets.
Points of discussion
- Definition and implications of competitiveness: How can competitiveness can be defined for the capital markets? To what extent does competitiveness relate to competition and open strategic autonomy? What the main current strengths and weaknesses of EU capital markets in terms of competitiveness?
- Drivers for increasing competitiveness: What are the priorities for enhancing the EU’s capital markets competitiveness? What enhancements in terms of competitiveness can be expected from on-going CMU and MiFIR review policy initiatives and actions underway at Eurosystem level? Should competitiveness objectives be further emphasized in future policy initiatives? What further policy or industry-driven initiatives are needed to enhance competitiveness? Can digitalization play a significant role in this regard?
- Possible changes in EU policy-making and supervision: Are evolutions needed in the way policy-making and supervision are conducted in the EU and regulations are enforced to foster a greater competitiveness of EU capital markets (e.g. in terms of agility, competitiveness checks…)?