EFAMA supports every efforts made to enhance financial markets regulation which reinforces the stability and the transparency of the financial system.

In that perspective, EFAMA welcomes the opportunity to comment on the ESMA Consultation Paper on RTS specifying the scope of the consolidated tape for non-equity financial instruments. We consider that a consolidate tape (“CT”) is a key positive factor for price formation and transparency.

Prior to replying to the consultation, we wish to make the following general remarks

EFAMA welcomes the opportunity to respond to the European Commission’s Green Paper on retail financial services. Widening the opportunities for European citizens to save and invest will facilitate better outcomes both for savers and the wider European economy.

EFAMA fully shares the goals of a Single Market for retail financial services in the EU, i.e.:

1. Promoting an EU-wide market in retail financial services that can facilitate cross-border business and consumer choice.