VIDEO | A recent AFME report said there is no discernible progress, yet the EU’s Capital Markets Union ambition (CMU) stays alive. According to ABN AMRO’s Erik Veerman, on stage with PostTrade 360° Amsterdam, it is – despite its challenges – too important to ignore.

Compared with the US, the European capital market is doing poorly, with price-to-earnings ratios way lower, low levels of market-based financing in the SME areas, and relatively poor interest in retail investments among people in general. Plus, financial markets are fragmented on all levels: trading, infrastructures and regulation. Is there any light in the tunnel?

Watch the session video here!

When logged in, pick up your free access pass for this Amsterdam conference if you haven’t. Then browse back to this page, and the video will show up in this box.


Well, at least a path is proposed. The EU’s Capital Markets Union initiative aims to address the pain ponts. 16 action plans are organised along three pillars: small and medium-sized enterprises should be able to get more market-based financing (as different from bank loans and private investment), retail investors should hold more assets in the market, and the market should be integrated into being a single one.


After a hesitant start, the CMU “flagship project” is gaining momentum with key legalisations in place – with SRD2, CSDR, a review of the Listing Act, and the Retail Investor Strategy as essential building blocks.

Erik Veerman is Senior Advisor Market Infrastructures, ABN AMRO.

• Our news posts from PostTrade 360° Amsterdam 2023, on 30 November, and previous years, are gathered here
• The conference info site, with detailed agenda, is here.
• For post-event access to recorded sessions, find them listed here. To see them, you need to be logged in, and have picked up the free content pass. Sounds tricky but just follow the links! 
• By the way … are we connected on LinkedIn already? Follow us here.