EUSIPA answers ESMA consultation on MiFID2 target market criterion
EUSIPA herewith wishes to provide its answer to the above mentioned ESMA Consultation Paper. The European Structured Investment Products Association was founded in 2009 by the main trade bodies that at the time already represented the interests of structured product issuers in Europe’s leading markets. Today’s members are the industry associations of the issuers of structured products of Austria, Belgium, France, Germany, Italy, The Netherlands, Sweden, Switzerland and the United Kingdom.
The market volume represented by these associations in invested assets can be estimated at around Euro 450 billion. EUSIPA itself is an international non-profit association registered under Belgian law and also listed in the EU transparency register. EUSIPA pursues, as an umbrella association for issuer banks, the aim to coordinate transparency initiatives at the European level and to support uniform market standards. We hope the attached provides sufficient background on our position and are open for any further clarification of the comments made.