Tokenisation workshop – From experimentation to scale: building tokenised capital markets in Europe

ESMA, national regulators, public authorities, market participants and academics discussed the future of tokenisation in European financial markets.

The workshop explored the current use of distributed ledger technology (DLT), the evolving regulatory landscape, and the opportunities and challenges shaping the wider adoption of tokenisation. 

The programme featured opening remarks by the ESMA Chair, followed by four thematic panels covering:

• Market infrastructures
• Settlement, cash and interoperability 
• Legal challenges for tokenised financial instruments
• Investor protection

Agenda

8:30 – 9:00 Registrations (for in-person participants only)

9:00 – 09:15 Conference opening and welcoming remarks, Verena Ross (ESMA)

09:15 – 10:30 Panel 1 - From trading to settlement: rethinking the market infrastructure chain for tokenised markets

• Moderator : Julien Nivot (ESMA)
• Mark Kepeneghian (Lise) 
• Peter Kersten (EC B4 DG FISMA)  
• Alexia Theodorou (Kraken) 
• Christian Sjoberg (Nasdaq) 

10:45 – 12:00 Panel 2 - Settlement, cash and interoperability: what is needed for tokenisation to scale in Europe?

• Moderator : Alina Dragomir (ESMA)
• Gergely Koczan (ECB) 
• Mireille Galeazzi (Euroclear France) 
• Marius Jurgilas (Axiology) 
• Alpay Soytürk (AllUnity) 

13:00 – 14:15 Panel 3 - Investor protection in tokenised markets: what really changes for the investor?

• Moderator: Amandine Cordier (ESMA)
• Martin Molko (Better Finance)
• Cameron Carr (Central Bank of Ireland)
• Coco Chen (AFME)

14:30 – 15:45 Panel 4 - Tokenised funds: ownership, registers and the fund lifecycle

• Moderator: Jacques Scauflaire (ESMA)
• Christoph Hock (Union investment/EFAMA)
• Patrick Hoffmann (CSSF)
• Antoine de la Guéronniere (BNP AM)

* All timings are Paris time and subject to change.