Fintech Could Demolish Europe’s Capital Markets Union Barriers
Influential lobby group urges European authorities to consider how technology could resolve outstanding issues with its single-market project.
When it announced the Capital Markets Union (CMU) project in 2015, under then-finance minister Lord Jonathan Hill, the European Commission knew that it would be a tough order to fill. Indeed, it had known this for years, after the Giovannini Group identified a number of obstacles relating to differing trading practices, settlement periods, tax practices and other areas between the 28-member bloc in the early 2000s that would need to be harmonized for any true single market in securities trading
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