The European Banking Federation, together with EFAMA, EPTA, MFA and AFME, has issued a joint industry statement urging policymakers to take an evidence based, targeted approach to EU equity market structure in the Market Integration and Supervision Package. The groups argue that the recently implemented MiFIR reform should be allowed to take effect and that further changes should address demonstrated market failures rather than steer trading toward particular venues. Consistent with the federation’s earlier support for investor choice across multiple venues, the statement says investors should remain free to decide where and how they trade to avoid higher costs and preserve access to liquidity. It prioritizes a Consolidated Tape with venue attribution and five levels of order book depth, while calling for action on excessive market data costs and limited choice in clearing and settlement as the main barriers to competition and market integration.
2026-09-16European Banking Federation
European Banking Federation calls for targeted EU equity market changes and regulatory stability under MISP
The European Banking Federation and four industry groups have called for targeted, evidence based EU equity market changes under MISP, warning against rules that steer trading toward particular venues. They prioritize investor choice, a Consolidated Tape with venue attribution and five levels of order book depth, lower market data costs and greater choice in clearing and settlement.