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

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year

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Press Release

Capital Markets

21 October 2025

Market data users have identified important gaps in plans for EU consolidated tape

List of recommendations show what is needed to ensure a successful tape.

Publication

Capital Markets

01 July 2025

Advancing EU capital markets: Prioritising key targets for the Savings and Investments Union

Policy position

Capital Markets

EMIR

01 March 2023

Joint trade association advocacy paper on equity option margin exemption under EMIR 3

Joint trade association letter regarding Implementation of CSDR SDR

On 11 March 2021, EFAMA and 14 trade associations representing a wide range of stakeholders in the European and global financial markets wrote to the European Commission and ESMA raising concerns about the implementation of the mandatory buy-in requirement under the EU’s CSDR Settlement Discipline Regime.

Publication

Capital Markets

CSDR

05 March 2021

3 questions to Agathi Pafili on CSDR

Q #1 What is the CSDR’s Settlement Discipline Regime (SDR) and what does it seek to achieve?

Press Release

Capital Markets

Capital Markets Union

Data

03 November 2020

An appropriately constructed Consolidated Tape could help to build deeper and more open capital markets in Europe

EFAMA and EFSA welcome the publication of a Market Structure Partners Study on the Creation of an EU Consolidated Tape which addresses the challenges, demand, benefits and proposed architecture for consolidating European financial market data.

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Related publications

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year

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Infographic

Capital Markets

MIFID

Capital Markets Union

Data

06 October 2021

Visual | Why do we need a real-time Consolidated Tape in the EU?

The current lack of quality pre- and post-trade data and the fragmentation of data sources remain an obstacle to the completion of the Capital Markets Union. The benefits of a real-time Consolidated Tape are wide-ranging: from market surveillance for supervisors, to best execution and an improved view on trading opportunities for retail investors, to portfolio management and pre- and post-trade analysis for fund managers to name a few.

Publication