ESMA’s activities in 2024 focused on strengthening the EU capital markets and putting citizens and businesses at the heart of it

In 2024, the EU transitioned from one institutional cycle to the next, while being impacted by changes in the economic and geopolitical circumstances. These changes started to reshape and refocus the priorities of the EU and ESMA. ESMA was active in a rich debate about Europe’s challenges and the critical role that capital markets need to play in order to overcome them. Take a closer look at the milestones we have reached.

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ESMA selects Ediphy (fairCT) to become the first Consolidated Tape Provider for bonds

Natasha Cazenave, ESMA’s Executive Director, said:

“With today’s decision, we are taking a decisive step towards setting up consolidated tapes in the EU. This step constitutes a key contribution to building the Savings and Investment Union (SIU) and to the further development of capital markets in Europe.

Market participants will benefit from a consolidated view of market activity for bonds in the EU, with a variety of use cases to the benefit of all participants in the EU’s fixed income markets.”

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ESMA publishes the final report on the active account requirement under EMIR 3

ESMA has streamlined the operational conditions and the stress-testing in response to feedback to its public consultation. Additionally, compared to the initial proposal outlined in the consultation document, the final report includes a simplification of the reporting requirements related to risks and activities, the representativeness obligation and the fulfilment of the operational conditions.

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ESMA makes recommendations for more effective and attractive capital markets in the EU

ESMA published its Position Paper on “Building more effective and attractive capital markets in the EU”. The Paper includes 20 recommendations to strengthen EU capital markets and address the needs of European citizens and businesses.

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ESMA Strategic priorities 2023-2028 & Work Programme 2025

ESMA will focus on strengthening supervision, enhancing the protection of retail investors, fostering effective markets and financial stability, enabling sustainable finance, as well as facilitating technological innovation and effective use of data.

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