Capital markets

Investment managers, acting on behalf of their retail and institutional clients, are among the largest investors in financial markets. They represent a key component of the market’s “buy-side” segment.

In representing the interests of its members on wholesale capital market issues, EFAMA advocates for fair, deep, liquid, and transparent capital markets, supported by properly regulated and supervised market infrastructure.

Related policy positions

Press Release

Capital Markets

MIFID

Capital Markets Union

25 November 2021

EFAMA welcomes proposal on affordable consolidated tape - The association continues to urge action on market data costs

EFAMA is pleased to read today the details of a robust MiFIR proposal from the European Commission addressing key areas of reform around the creation of a consolidated tape (CT), along with adjustments to transparency requirements on trading. 

Policy position

Capital Markets

19 November 2021

ESMA Consultation on the review of certain aspects of the short selling regulation

EFAMA welcomes this opportunity to comment on the review of the provisions within the Short Selling Regulation. We have limited our responses to those questions of most relevance to our membership.

Policy Position

Capital Markets

EMIR

16 September 2021

UK clearing house equivalence - request from nine trade associations

Nine associations (AFME, AIMA, EAPB, EBF, EFAMA, FIA, ICI, ISDA, SIFMA AMG) welcome the Commission's decision to grant a time-limited equivalence decision in respect of UK CCPs. However, when this time-limited equivalence decision expires on 30 June 2022, there remains a significant risk of disruption to clearing for EU firms and to their access to global markets.

EFAMA welcomes proposal on affordable consolidated tape - The association continues to urge action on market data costs

Publication

Capital Markets

MIFID

16 November 2021

Buy-side use-cases for a real-time consolidated tape

A real-time consolidated tape, provided it is made available at a reasonable cost, will bring many benefits to European capital markets. A complete and consistent view of market-wide prices and trading volumes is necessary for any market, though this is especially true for the EU where trading is fragmented across a large number of trading venues. A real-time consolidated tape should cover equities and bonds, delivering data in ‘as close to real-time as technically possible’ after receipt of the data from the different trade venues.

Announcement

Capital Markets

Capital Markets Union

Competitiveness

EU Fund regulation

International agenda

Investor Education

Management Companies

Sustainable Finance

Tax ＆ Accounting

10 November 2021

Thank you to the Investment Management Forum sponsors | Register now!

Register now for our Investment Management Forum next week! High-calibre panels and keynote speakers promise rich, informative and thought-provoking exchanges between European policymakers, investment managers and regulators on

- the Competitiveness of our industry
- the EU retail investment strategy
- the latest in global standards for sustainability reporting
- challenges and opportunities of alternative investment regulations
- the impact of digitalisation on asset management
- and more...

all news

Related publications

Publication

Capital Markets

Benchmarks

Management Companies

Supervision

26 July 2016

Closet Index Funds

EFAMA has reviewed ESMA’s statement “Supervisory work on potential index tracking”, which sets out research to determine whether any indication of closet indexing could be found at EU level. To contribute to the debate on this matter, EFAMA has prepared a paper, which highlights the limits of identifying closet index funds through a statistical analysis, drawing on recently published research papers.

Publication