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10 October 2012

Financial Markets: Serving the Real Economy? Conference 10 Oct 2012

Add to calendar 20121010 9:30 20121010 18:00 Europe/Paris Financial Markets: Serving the Real Economy? Conference 10 Oct 2012

This page contains the conference materials from Finance Watch’s MiFID event on 10 October 2012.

Stanhope Hotel - Rue du Commerce 9, 1000 Brussels Finance Watch contact@finance-watch.org aoMSanpGmzuejoUWimpX252633
9:30 - 18:00

Stanhope Hotel, Rue du Commerce 9, 1000 Brussels

This page contains the conference materials from Finance Watch’s MiFID event on 10 October 2012.

Finance Watch Conference 10th October 2012

An “Investing not Betting” event

Stanhope Hotel Rue du Commerce, 9 1000 Bruxelles

The Markets in Financial Instruments Directive (MiFID) adopted in 2004 revolutionised the trading landscape in Europe, paving the way for alternative trading venues and algorithmic trading to become dominant features. Seven years later, the Commission proposed a ‘MiFID review’ to extend the scope and depth of the legislation to the full range of capital markets, a timely move as European economies struggle to find new sources of funding.

This review contained ambitious proposals to strengthen the powers of regulators and investor protection, reinforce regulatory and market transparency and address challenges such as high frequency trading and the ‘financialisation’ of commodity derivative markets. Finance Watch published its views on the legislation in its April 2012 position paper “Investing not betting. Soon after the European Parliament’s ECON Committee voted to approve its version of the legislation on 26 September 2012, Finance Watch assembled a diverse group of senior regulators, reformers and industry representatives at a conference in Brussels to debate some of the more controversial proposals in the legislation.

The executive summary of the conference is available here. Other materials from the day are below.

Keynote speeches

Panel 1 “Commodity Derivatives speculation: too much of a good thing?”

What explains the recent 30-fold increase in capital inflows to commodity derivatives? What are the consequences for price formation and volatility? How are pension funds and banks treating these markets? What has worked to stabilize prices in the past? Where do we stand with position limits? How can capital best support commodities production and consumption?

Panellists:

Keynote Speech

Panel 2 “Market Structure and Technology: who benefits?”

What are the lessons from MiFID1 and Reg NMS? Has fragmentation and the technological ‘arms race’ benefited end-users or intermediaries? What tools do regulators need to tackle predatory HFT strategies and keep markets stable? Will MiFID2 improve investor and issuer confidence in markets? What obligations and incentives should market makers have?

Panellists:

Keynote Speech:

Presentations from the conference are provided with permission from the speakers, who retain copyright to the content. Copyright to the photos and videos belongs to Finance Watch. Photos may be downloaded from Flickr provided the photographer, Charles Kinoo, is credited in any subsequent publication. To request high resolution photos, please contact us.

Add to calendar 20121010 9:30 20121010 18:00 Europe/Paris Financial Markets: Serving the Real Economy? Conference 10 Oct 2012

This page contains the conference materials from Finance Watch’s MiFID event on 10 October 2012.

Stanhope Hotel - Rue du Commerce 9, 1000 Brussels Finance Watch contact@finance-watch.org aDFdtugMkzeEXUhHCmVG49806

Location

Stanhope Hotel
Rue du Commerce 9, 1000 Brussels

Itinerary