Fragmentation in financial markets has been identified as a barrier to more efficient functioning of the EU’s capital markets. This event is an opportunity to engage with industry stakeholders across the financial landscape on the degree of integration of EU capital markets. It will bring together investment funds, infrastructure operators and other market players. In parallel to this event, the Commission will keep engaging with other key stakeholders, including regulators.
The Commission views consolidation as a market-driven process with EU legislation aiming to remove obstacles and provide incentives to that process. This workshop should help identify any barriers to consolidation, both at the level of integration of market infrastructures and of consolidation and scaling up of investment funds in the EU.
Regarding integration of market infrastructures, the discussion will cover various market segments – exploring its potential benefits, challenges, and the regulatory landscape.
Speakers will also discuss the role of investment funds in making the EU economy more competitive, particularly through fostering investments into innovative companies. This can be difficult to achieve given the level of fragmentation in the investment funds offer, the event should therefore help us identify barriers to the consolidation of investment funds, including venture capital and private equity funds.
This discussion will be framed by the objectives of the capital markets union (CMU) project and the broader goal of enhancing EU competitiveness.
In this context, the Commission has also recently launched a study on “consolidation and reducing fragmentation in trading and post-trading infrastructures in Europe and on the scaling up of funds investing in innovative and growth firms”.
Registration
As the seats for this event are limited, the Commission staff will review the expressions of interest in order to ensure a balanced audience. Please wait for an explicit confirmation that your attendance is approved before proceeding with travel arrangements.
If multiple registrations per organisation have been received for physical presence, the Commission staff might limit the physical representation to a single person per organisation. Others are welcome to follow the event online.
Register for the roundtable
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Web streaming
The event will be web streamed. The web stream links will be available here soon.
- financial services | capital markets union
- Thursday 26 September 2024, 10:00 - 17:15 (CEST)
- Brussels, Belgium
Programme
- 26 Sep 2024, 09:00 - 10:00 (CEST)Registration and coffee
- 10:00 - 10:15 (CEST)Opening by Commission Directorate General for Financial Stability, Financial Services and Capital Markets Union (DG FISMA)
- 10:15 - 10:30 (CEST)Keynote speaker
Nicolas Veron, Senior fellow at Bruegel and at the Peterson Institute for International Economics in Washington DC
- 10:30 - 12:00 (CEST)Plenary debate
Towards more efficient EU capital markets: identifying and addressing barriers to integration of market infrastructure and scaling up of investment funds.
Panellists:
- Thomas Schindler, CFO, Allianz Global investors
- Valerie Urbain, CEO, Euroclear
- Giorgio Modica, CFO, Euronext group
- Karolina Rzonca-Bajorek, CFO, Asseco Poland
Moderator: Marcel Haag, Director for horizontal policies, DG FISMA
- 12:00 - 12:15 (CEST)Conclusions by Marcel Haag, Director for horizontal policies, DG FISMA
- 12:15 - 13:30 (CEST)Lunch break
- 13:30 - 17:15 (CEST)Parallel break out session on trade/post-trade
- 13:30 – 15:00 – Panel 1: A trading perspective on consolidation
Panellists:- Alex Dalley, Head of CBOE Netherland
- Roland Chai, President of European Markets, Nasdaq
- Helle Søby Thygesen, Secretary General, Capital Market Denmark, FIDA
- Niels Brab, Head of group regulatory strategy, government relations & political affairs, chief regulatory officer, Deutsche Börse Group
- David Gardner, Vice-President for corporate finance, Bolt
- Olga Jordão, CEO Euronext Securities Porto and Head of business operations
- Moderator:
- Tanya Panova, Head of Unit, Securities markets, DG FISMA
- Tanya Panova, Head of Unit, Securities markets, DG FISMA
- 15:00 – 15:30 – Coffee break
15:30 - 17.00 – Panel 2: Post-trading
Panellists:- Valerie Urbain, CEO, Euroclear
- Ondřej Dusílek, Chief Executive Officer, CSD Prague Central Securities Depository Prague
- Pierre Davoust, Head of Central Securities Depositories, Euronext
- Pierre Marsal, European Law Consultant, ANSA
- Mario Muth, Global Head of Platform Sales , Deutsche Bank
- Vikesh Patel, CEO, CBOE Clear
- Laurence Caron-Habib, Head of Public Affairs, BNP Paribas Asset Management
Moderator:
- Martin Merlin, Director for financial markets, DG FISMA
- 17:00 – 17:15 – Concluding remarks by DG FISMA
- 13:30 – 15:00 – Panel 1: A trading perspective on consolidation
- 13:30 - 17:15 (CEST)Parallel break out session on investment funds
- 13:30 – 13:40 – Introduction by Martin Merlin, Director for financial markets, DG FISMA
13:45 – 15:00 – Panel 1: Consolidation in investment funds
Panellists:- Eric Bramoullé, Head of product and marketing and member of executive committee, Amundi
- Geraldine Leegwater, Chief Investment Management, PGGM
- Nils Bolmstrand, CEO of Nordea Asset Management
- Terri Dempsey, CEO State Street Fund Services (Ireland) and Ireland Country Head
Moderator:
- Hélène Bussières, Head of Unit, Asset management, DG FISMA
- 15:00 – 15:20 – Coffee break
- 15:20 – 15:40 – Presentation: EU’s challenge to scale up risk capital delivered by Jan-Martin Frie, International Monetary Fund
15:45 – 17:00 – Panel 2: Barriers to scaling-up risk capital
Panellists:- Rebecca Versteeg, member of KKR Impact investing team
- Markus Pimpl, Managing Director at Partners Group
- Stefan Haubner, Founding partner of APEX VC
- Adam Niewinski, Co-founder and general partner, OTB ventures
- Hugo Weber, Vice Presdent, Corporate Affairs & Impact, Mirakl
Moderator:
- Jan Ceyssens, Head of the Unit, Capital markets union, DG FISMA
- 17:00 – 17:15 – Concluding remarks by DG FISMA
Practical information
- When
- Thursday 26 September 2024, 10:00 - 17:15 (CEST)
- Where
- Conference Centre Albert BorschetteRue Froissart 36, 1040 Brussels, Belgium
- Languages
- English
Contacts
General contact
- fisma-consolidation-roundtable
ec [dot] europa [dot] eu