ECSDA welcomes the capital market integration package and looks forward to contributing to strengthening European capital markets
ECSDA welcomes today’s announcement by the European Commission on the regulatory package for integration of the EU capital markets in line with the previously announced Savings and Investments Union (SIU) strategy.
The package represents a decisive step forward for Europe. It encompasses several layers of financial markets, including trading, clearing, settlement and asset management.
In view of the urgency to support the SIU and its essential role for further growth of the European economy, we particularly appreciate the Commission’s effort to advance this important work within a very short timeframe.
Europe needs a modern, coherent, and harmonised regulatory framework for post-trade services to support the efficiency, resilience, and competitiveness of its capital markets. CSDs contribute to these objectives by driving the modernisation and digitalisation of market ecosystems, safeguarding the integrity of securities issuance, and enhancing connectivity and cross-border platforms.
In line with our previous calls for action on EU capital markets integration, ECSDA welcomes measures that facilitate cooperation and interconnection among market infrastructures, supporting the expected liquidity growth resulting from the overall SIU programme. ECSDA also supports the further simplification of passporting procedures to strengthen the freedom of issuance.
As a follow-up to its response to the European Commission’s consultation, the Association is now carefully assessing the legislative proposals to provide input to this reform.
At ECSDA, we look forward to cooperating with the European Commission, the co-legislator, regulators, and stakeholders to provide our technical expertise to promote an integrated and globally competitive European capital market.
Anna Kulik, Secretary General, commenting on the announcement said:
“We warmly welcome today’s announcement of the SIU legislative package — a major stepping-stone towards an integrated European capital market. ECSDA stands ready to contribute its technical expertise, continue supporting digitalisation and a resilient, efficient and competitive pan-European market that serves citizens, businesses and economies alike”.