23 Oct 2015

The Capital Markets Union

The next consequent step towards the integration of the European financial markets

Strengthening markets, fostering growth

The Capital Markets Union is set to enhance and deepen the free flow of capital, one of the four fundamental freedoms of the European Single Market.
Following the implementation of the Banking Union, it is the next step towards the integration of financial markets. To create growth and jobs the European Commission has defined five main targets:

1. remove barriers to the cross-border investments
2. improving access to funding for European companies
3. diversification of financing options incl. cost reduction
4. facilitate the raising of capital for SMEs
5. increasing the attractiveness of the EU for global investments

Deutsche Börse: “Important initiative to strengthen Europe’s competitiveness“

Deutsche Börse Group regards the aspired Capital Markets Union as an important initiative to enlarge and deepen the European capital markets within the 28 member states, that will make a decisive contribution to strengthening Europe’s competiveness. Deutsche Börse Group has elaborated six core principles which it considers prerequisites to achieve a functioning Capital Markets Union:

• development of initiatives to revive investor trust
• promotion of alternative, non-bank funding sources (both equity and debt)
• enhancement of financial stability
• create more transparency for investors and supervisory authorities
• fostering harmonization of regulatory standards /eliminating barriers
• shape the supporting regulatory and supervisory environment

A Deutsche Börse White Paper provide further details regarding the concept of a functioning Capital Markets Union and the policy initiatives that should be considered.

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