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European Capital Markets Institute

ECMI conducts in-depth research aimed at informing the debate and policy-making process on a broad range of issues relevant to capital markets.

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Publications, Events, Statistics

Through its various activities, ECMI facilitates the interaction among market participants, policymakers and academics.

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Membership

Our membership base and governance model are the best guarantee of ECMI’s independence as a research institute.

 

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Setting EU CCP policy – much more than meets the eye

More than EUR 3.2 trillion notional outstanding of interest rate swaps (IRS), the most active interest rate derivative (IRD) product, are cleared every day in the City of London, including around 94% of all euro-denominated IRS that are traded globally. Brexit has naturally raised questions around whether London’s central role can continue.

A new CEPS-ECMI study calls for a long-term vision for the future of the European clearing market, by taking financial stability, efficiency, and market development objectives into account.

  • In the short-term, the best way forward to address EU concerns about the exposure of EU firms to UK central counterparty clearing houses (CCPs) is to implement appropriate supervisory and regulatory co-operation.
  • A policy to further develop central clearing in the EU should be part of a clear long-term strategy in the context of the Capital Markets Union (CMU), be market-driven and, again, be given the appropriate time to mature.
  • The alternative, to abruptly restrict EU firms’ access to London, cannot be easily achieved and would result in clear collateral damage for EU banks and end users, put EU banks at a clear competitive disadvantage vis-à-vis it’s international counterparts and unnecessarily harm the EU economy.

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Recent Publications

Taking stock of the MiFID and MiFIR review and what still needs to be done

Published in: 
Commentaries
14.06.2022

The European Commission’s proposal for a consolidated tape of real time market prices for securities is taking up a lot of energy for data providers and the European Securities a

EU’s proposed crypto regulations are flawed

Published in: 
Commentaries
20.05.2022

As the crypto world goes through yet another bout of turmoil, it is clear that stronger regulatory oversight of digital assets is needed.

Roundtable on Capital Markets Union

Published in: 
Task Forces
19.05.2022

MAIN OBJECTIVE

International standards for sustainability: fighting an uphill battle?

Published in: 
Event Reports
22.03.2022

Notwithstanding the benefits, the fragmentation and multiplicity of corporate (sustainability) reporting frameworks have also increased costs for companies, investors and regulat

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Recent Events

In conversation with Petra Hielkema, Chair of EIOPA

Published in 
Webinar
11.07.2022
17:00-18:00

On 11 July, Petra Hielkema, Chair of EIOPA will be meeting virtually with ECMI and CEPS members. 

Participation in the meeting is exclusive for ECMI and CEPS members

Roundtable discussion with Minister Donohoe

Published in 
Roundtable
24.05.2022
14:15-15:30

In the week leading up to CEPS annual conference, Ideas Lab, we are hosting a series of high-level events to help set the scene of the current geopolitical and economic landscape.

In conversation with Verena Ross (ESMA): EU capital market policy update

Published in 
Roundtable
20.04.2022
09:30-11:00
Venue: 
Zoom

On 20 April, ECMI will held a virtual roundtable with Verena Ross, Chair of ESMA.

International standards for sustainability: fighting an uphill battle?

Published in 
Webinar
17.02.2022
14:00-15:00
Venue: 
Zoom

Notwithstanding the benefits, the fragmentation and multiplicity of corporate (sustainability) reporting frameworks have also increased the costs for companies, investors and regulators.

More Events

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Contact ECMI

European Capital Markets Institute

1 Place du Congres, 1000 Brussels
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Tel: +32 (0) 2 229 39 87

Email: ecmi@ceps.eu

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  • About ECMI
    • Mission & Governance
    • Membership
    • Research Team
    • Activities Report
    • Join us
    • Contact us
  • Publications
    • Commentaries
    • Policy briefs
    • Research reports
    • Working papers
    • Event Reports
    • Books
  • Task Forces
  • Events
    • Forthcoming events
    • Past events
  • Statistics
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