EPTA Key Issues

Our Priorities for Further Strengthening European Capital Markets

Enabling end-investors to have efficient access to diverse sources of liquidity in resilient markets

Robust market liquidity is key to enable end-investors to achieve their investment and risk management objectives. FIA EPTA’s members are committed to expanding the range of products and markets where they provide liquidity, resulting in more efficiency and lower costs for end-investors. To achieve this, it is essential that markets are transparent and non-discriminatory, as much as possible underpinned by central clearing. Investor confidence is built on markets being fair, orderly, and stable, and we advocate for stronger market resiliency through transparency and sound risk management practices, including CCP clearing.

European secondary markets deliver on the promise of sustainable finance

Sustainable finance offers a tremendous promise in unlocking investment capital that is essential for fighting climate change and mitigating its impact for citizens. To be widely accepted by investors, sustainable finance products need to be embedded in a healthy secondary market environment which ensures liquidity and enables investors to risk-manage their exposures. FIA EPTA is committed to supporting policy makers in ensuring the success of the sustainable finance project at all levels of the capital market ecosystem.

European capital markets remain globally competitive

Markets and market participants are global in nature, and Europe’s capital markets benefit greatly from the capital and liquidity flowing from other parts of the world. FIA EPTA strongly supports a diverse, innovative and globally competitive capital markets ecosystem for Europe, which efficiently serves end-investors and is governed by proportionate regulation, minimizing undue barriers to entry. We advocate for a fit-for-purpose equivalence framework which supports cross-border liquidity provision and prevents undue market fragmentation.

Fostering technological innovation to further improve market quality and lower costs for end-investors

We strongly believe that technological innovation brings results for end-investors. Therefore, ensuring that European markets benefit from first-in-class technology is key. FIA EPTA members have been pioneers in the use of financial technology and in modernising European markets. This has delivered greater efficiency, increased transparency, and lowered costs for end-investors. Our members were also among the first to recognise the importance of sound governance and risk management control structures around the use of such technology, such as algorithmic trading. We are strongly committed to working with policymakers to ensure markets and end-investors benefit from innovative technology – ranging from artificial intelligence and algorithms to blockchain – through appropriate governance and control structures.

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