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Deutsche Börse discusses the state on Europe’s markets

27 Jun 2017

Deutsche Börse discusses the state on Europe’s markets

This year’s FESE convention was all about Brexit and its implications: On June 21 and 22, the Federation of European Exchanges – short: FESE – held its annual meeting in Paris. Alexandra Hachmeister and Thomas Book were among the panelists that discussed the current state of European markets and regulation.

On the first day of the conference, FESE and Oliver Wyman presented a report titled "Strengthening Europe's Position in Global Capital Markets" which sets out principles that can guide the development of European capital markets making them more liquid, transparent, and efficient. The ultimate aim is to facilitate growth of the real economy and to protect European capital markets from numerous headwinds facing them.

The next day, Alexandra Hachmeister focused on financial stability, free capital flows and level playing fields and argued that these were not all outdated promises in the new world. She discussed with Euronext CEO Stéphane Boujnah, Nasdaq Nordic President Lauri Rosendahl, Verena Ross, Executive Director at ESMA, and David Wright, Partner at Flint Global.

Thomas Book spoke about the derivative markets and the trend to national markets. “Financial stability always comes first. But we do not need to make markets national again to achieve sound and stable systems”, he argued. With him on the panel sat Pierre Petit, Deputy Director General Market Infrastructure & Payments, ECB, Stephen Berger, Managing Director Government and Regulatory Policy, Citadel, and ISDA CEO Scott O’Malia.

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