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Open, competitive, and efficient market and banking systems proved their resilience and purpose, helping corporates raise record levels of financing and investors reallocate portfolios and investments at a time of heightened volatility.
EU capital markets, however, remain fragmented along national lines despite years of pro-integration
initiatives. EU markets do not yet reflect the size of the EU economy, and, crucially, are underpowered in the support that they could otherwise provide for the EU economic growth.
Having EU equity and fixed income wholesale market eco-systems that work for investors, corporates and other users of capital markets would significantly help the European economic recovery, investments and growth.
We set out below recommendations for the MiFIR review that would help achieve those objectives on equity and fixed income markets.
more at AFME