Capital markets

Investment managers, acting on behalf of their retail and institutional clients, are among the largest investors in financial markets. They represent a key component of the market’s “buy-side” segment.

In representing the interests of its members on wholesale capital market issues, EFAMA advocates for fair, deep, liquid, and transparent capital markets, supported by properly regulated and supervised market infrastructure.

Related policy positions

Topic

year

Keywords

Policy position

EFAMA's reply to ESMA's CP on MiFIR Review report on the obligations to report transactions & reference data

Capital Markets

Distribution ＆ Client Disclosures

EU Fund regulation

UCITS

23 November 2020

EFAMA's reply to ESMA's CP on MiFIR Review report on the obligations to report transactions & reference data

We disagree with an extension of its scope to UCITS’ and AIFs’ management companies to the scope of the reporting requirements imposed by MiFIR, Art. 26. This extension would be in breach of the principle of proportionality, as:

Policy position

EFAMA’s position on EC proposal to modify Investment Research

Capital Markets

14 September 2020

EFAMA comments EC CP on a Covid-19 Capital Markets Recovery Package

EFAMA appreciates the Commission's efforts in pursuing an alleviation of certain MiFID II requirements in the interest of promoting a swift recovery from the economic crisis precipitated by the Covid-19 pandemic (....).

EFAMA believes however that there are more effective ways to foster SME access to markets and urges the Commission to consider a set of further measures (...)

Policy position

EFAMA's response to ESMA's Call for evidence on the availability and use of credit rating information & data

Capital Markets

03 August 2020

EFAMA's response to ESMA's Call for evidence on the availability and use of credit rating information & data

EFAMA statement on European exchanges’ bid to run a consolidated equities tape

EFAMA welcomes the recent proposal by European exchanges to build a consolidated tape. This affirms the buy-side’s long standing view that a European consolidated tape is key to completing the objectives of the Capital Markets Union and ensuring that European capital markets remain globally competitive. We have identified important use-cases for institutional and retail investors alike, not least in the ability to receive best execution on trades.

Press Release

Capital Markets

03 June 2022

EFAMA, ICSA & MFA welcome IOSCO Feedback Statement on “Market Data in the Secondary Equity Market”

3 June 2022 - EFAMA, ICSA and MFA (the Associations) have read IOSCO’s Feedback Statement on “Market Data in the Secondary Equity Market” following the IOSCO consultation in 2021, and warmly welcome its conclusions.

The Associations would like to draw attention towards the executive summary in particular, where a number of valuable insights and recommendations are presented. For example, we fully support the statement below, though we would suggest an important addition:

Press Release

EU flag full mast on the Berlaymont background

Capital Markets

MIFID

30 May 2022

Cross-Industry Consensus on EU Equity Consolidated Tape

EFAMA, AFME, BVI and Cboe Europe Agree Cross-Industry Consensus on EU Equity Consolidated Tape

Monday 30 May, 2022 - AFME, BVI, Cboe Europe and EFAMA have today jointly published a position paper which provides a set of key principles needed to ensure the successful creation of an EU Equity Consolidated Tape (CT).