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

Policy position

Capital Markets

19 November 2021

ESMA Consultation on the review of certain aspects of the short selling regulation

EFAMA welcomes this opportunity to comment on the review of the provisions within the Short Selling Regulation. We have limited our responses to those questions of most relevance to our membership.

Policy Position

Capital Markets

EMIR

16 September 2021

UK clearing house equivalence - request from nine trade associations

Nine associations (AFME, AIMA, EAPB, EBF, EFAMA, FIA, ICI, ISDA, SIFMA AMG) welcome the Commission's decision to grant a time-limited equivalence decision in respect of UK CCPs. However, when this time-limited equivalence decision expires on 30 June 2022, there remains a significant risk of disruption to clearing for EU firms and to their access to global markets.

Policy Position

Capital Markets

CSDR

15 July 2021

Joint association letter on the CSDR Settlement Discipline implementation timeline

On 14 July 2021, sixteen trade associations, representing buy-side, sell-side and market infrastructures, wrote to ESMA and the European Commission regarding the timeline for implementation of the mandatory buy-in rules as part of the CSDR Settlement Discipline Regime.

The Joint Associations welcome the Report from the Commission on the CSDR Review published in July 2021 and fully support the Commission’s intention to consider amendments to the mandatory buy-in regime, subject to an impact assessment.

EFAMA urges changes to MBI implementation timetable

Following the publication of the European Commission report confirming the settlement discipline regime will be reviewed, Susan Yavari, Regulatory Affairs Adviser at EFAMA, commented:

Publication

Capital Markets

Benchmarks

30 June 2021

3 Questions to Christophe Binet on LIBOR Transition

Q #1 When will LIBOR phase out and which rates will be replacing it?

Policy Position

Capital Markets

Data

14 June 2021

Joint statement by EFAMA and EFSA on Consolidated Tape and market data costs

The appropriate construction, and conditions for the usage, of a Consolidated Tape

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Related publications

Publication

Capital Markets

Benchmarks

30 June 2021

3 Questions to Christophe Binet on LIBOR Transition

Q #1 When will LIBOR phase out and which rates will be replacing it?

Publication

Capital Markets

Benchmarks

Data

International agenda

09 June 2021

Global Memo: Benchmark Data Costs

A key purpose of the financial system is to allocate capital and risk in a manner that supports sustainable economic development and growth, including through the provision of financing, investment and hedging products. Financial benchmarks/indices are fundamental to the functioning of financial markets and are widely used in both retail and wholesale markets. In particular, benchmarks are a valuable tool helping market participants to set prices, measure performances, or work out amounts payable under financial contracts or instruments.

Publication