World Finance Informs

European capital markets are being asked to become larger, more integrated and more competitive without losing the benefits that come from having multiple market infrastructures. That makes financial market infrastructures an important part of the wider competitiveness discussion. The European Commission says EU financial markets remain significantly fragmented and smaller than major peers, with differences in national requirements and market practices continuing to hinder cross-border activity. In 2024, EU stock-market capitalisation stood at 73% of EU GDP, compared with 270% in the US. The challenge is that competition between infrastructures does not automatically create an integrated market. Europe has established...