CEPS:How crisis-proof are financial market infrastructures?

25 January 2021

The pandemic has caused unprecedented volatility in the financial markets. The corporate sector has been hit by supply disruptions and weak demand. Amid such turbulence, providers of infrastructure services for financial markets, such as exchanges, clearinghouses, trade depositories and custodians, financial data, and technology providers, are vital to providing robust and stable platforms and operations as well as timely information to allow for efficient transactions.

Their operational resilience should enable them to go on contributing to well-functioning secondary markets and ensure the recapitalisation of primary markets.

 What risk-management tools do market infrastructure providers have to deal with the unprecedented crises? Has their effectiveness been tested?
 Are national ecosystems sufficiently integrated across the EU? Has interoperability been achieved in practice?
 Is the current regulatory framework protecting the financial sector and wider economy from potential operational disruptions?
 Are capital markets and the financial sector structured in a way that could prevent, adapt, respond to, recover, and learn from operational disruptions?

Speakers:
Carmine Di Noia, Commissioner, CONSOB & Chair, Committee for Economic and Markets Analysis, ESMA
Boris Augustinov, Policy Officer, Digital Finance Unit, DG FISMA, European Commission
Rachel Tyler, Executive Director of Business Resiliency, DTCC
Mark Spanbroek, Chairman, FIA EPTA
Moderated by Karel Lannoo, CEO of CEPS and General Manager, ECMI

Full paper

CEPS

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