The European Capital Markets Forum gathers policymakers, financial experts, and market participants to explore challenges and opportunities shaping European capital markets. Taking place during Poland’s Presidency of the Council of the European Union, the event focuses on enhancing market resilience, promoting cross-border investments, and advancing regulatory harmonization to support Europe’s strategic goals.
10:30-11:00 |
| Registration and coffee | WARSAW STOCK EXCHANGE
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11:00-11:15 |
| Opening remarks
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11:15-11:30 |
| Keynote Speaker | Andrzej Domański, Minister, Polish Ministry of Finance
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11:30-11:45 |
| Keynote Speaker | Klaus Löber,Chair of CCP Supervisory Committee, EuropeanSecurities Markets Authority (ESMA)
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11:45-12:45 |
| Advancing Capital Markets Union: Balancing Pan-European Integration with Regional Development Needs for Innovation and Growth
This panel will explore the creation of a single EU capital market, focusing on reducing fragmentation while preserving the unique characteristics of regional financial ecosystems. It will highlight the role of public capital markets in fostering growth and innovation, particularly for European SMEs, and discuss simplifying regulations to enhance their competitiveness. Insights from Mario Draghi’s report and the Council of the EU’s Budapest Declaration will guide the discussion on harmonizing Member States' regulatory frameworks to support both pan-European integration and regional development.
Moderator: Rosa Armesto, Director General, FESE |
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12:45-13:00 |
| Keynote Speaker | Maria Luís Albuquerque, Commissioner, Financial Services andthe Savings and Investments Union (ONLINE)
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13:00-14:00 |
| Towards Saving and Investments Union: Transforming savings to long-term Capital Market Investments
This panel will focus on strategies to redirect retail savings from deposits to long-term capital market investments, emphasizing the importance of financial education in empowering investors to make informed decisions. Panelists will discuss the development of an EU savings and investment framework, including pension products and equity funds supported by tax incentives, to mobilize €33 trillion in cash savings. Recommendations from the Letta and Noyer reports on fostering green and digital transitions, revitalizing securitization markets, and enhancing supervisory integration will also be examined.
Moderator: Małgorzata Rusewicz, President of the Board, IZFIA |
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14:00-14:45 |
| Lunch break
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14:45-15:05 |
| Fireside chat | Navigating Fragmentation: European liquidity dynamics and future outlook
This session will address challenges in European liquidity, focusing on the shift from lit markets to systematic internalizers and auctions and its impact on transparency. Discussions will include the effects of fragmented listing venues and currencies on equities and ETFs compared to the US market, and the potential of a consolidated tape to influence liquidity and cross-border investments. Regulatory approaches to balancing alternative liquidity venues with market transparency and strategies for adapting to changing liquidity dynamics will also be explored.
Moderator: Michał Kobza, Board Member, Warsaw Stock Exchange |
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15:05-15:20 |
| Keynote Speaker | Maciej Trybuchowski, President and CEO, KDPW & President, KDPW_CCP
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15:20-16:20 |
| Post-Trade Harmonisation in Europe: What has already been done? What there is left to do?
This panel will examine progress and challenges in unifying the EU’s post-trade market infrastructure, emphasizing its role in supporting the Savings and Investments Union initiative. Panelists will discuss the balance between single and multiple CSDs in Europe, trends in CCP consolidation, and the transition to T+1 settlement cycles, assessing their implications for the European financial ecosystem.
Moderator: Anna Kulik, Secretary General, European Central Securities Depositories Association (ECSDA) |
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16:20-16:35 |
| Keynote Speaker | Jacek Jastrzębski, Chair of the KNF - Polish Financial Supervision Authority
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16:35-17:35 |
| How to Attract and Retain Issuers: Policy and structural solutions to boost IPO activity in Europe
This discussion will analyze the decline in IPOs in Europe and propose strategies to revitalize the capital market. Panelists will focus on creating a flexible regulatory framework for small and mid-cap companies, harmonizing disclosure requirements, and simplifying the IPO process, while also exploring structural solutions to address valuation challenges impacting IPO activity in the region.
Moderator: Delphine d’Amarzit, Vice President, FESE; Chairman and CEO, Euronext Paris; andMember of the Managing Board, Euronext |
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17:35-17:40 |
| Closing remarks
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COCKTAIL DINNER | NATIONAL MUSEUM IN WARSAW | FULL PROGRAM TBC |
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19:30-20:00 |
Registration
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20:00-20:10 |
| Opening and welcome
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20:10-20:20 |
| Keynote speech | Magdalena Sobkowiak-Czarnecka,Undersecretary of State,European Union Affairs Division
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20:20-23:00 |
| COCKTAIL DINNER
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Cocktail Dinner Dress Code: |
VENUE: Warsaw Stock Exchange
ADDRESS: Książęca 4, 00-498 Warsaw
COCKTAIL DINNER VENUE: National Museum in Warsaw
ADDRESS: Aleje Jerozolimskie 3, 00-495 Warsaw
E-MAIL: ecmf@gpw.pl