ECONOMY

FESE wants to close legal gaps

Europe’s capital markets need to work together with European Union policymakers in order to push through reforms aimed at helping win back investor confidence in a post-crisis environment, according to the president of FESE, a group representing 42 exchanges across Europe. Spyros Capralos, the president of the Federation of European Securities and Exchanges (FESE), said reforms should address legislative flaws and gaps, ensuring fair competition and a level playing field between all venues, products and players. «Our ultimate goal is to put confidence back into the single market,» he told a FESE convention in Brussels this week. «The new chapter in our industry has to place the investor at the heart of all legislation,» added Capralos, who is also CEO of Hellenic Exchanges. The EU faces tough decisions of policy and implementation in the years to come, he added. FESE represents exchanges in equities, derivatives, commodities and bonds.