Federal Association of Securities Trading Firms at the German Stock Markets â has joined join the alliance of six major national and international associations which are existing members of EFMF. The bwf is a nationwide association of securities trading firms, authorised stockbrokers and market specialists in Germany. In the banking dominated German capital market the bwf is the representative voice for sell-side investment firms in the political arena on both at national and European level.
Commenting on this development, Michael H. Sterzenbach, Secretary General of the bwf, said: âFrom our perspective, the increased cooperation of regulators, the ongoing strengthening of their powers within the European and national legislative process as well as the tremendous amount of resources the European banking industry and the exchange operators have allocated to their lobbying activities in recent years clearly call for increased cooperation between investment firms from across Europe and also the trade associations representing them. For the bwf the goal is clear - to coordinate the actions of trade associations from as many European member states as often and wherever possible. The EFMF represents an excellent platform for achieving this goal, ensuring that the specific needs of investment firms are dealt with appropriately. We look forward to participating in EFMF and to actively supporting its work in the very best interests of the European securities industry.â
The Federation is currently working on a cooperative agenda which includes the regulatory response to recent market turbulence, market issues subsequent to the implementation of MiFID, pan-European clearing and settlement, bond market transparency and the EU/US regulatory dialogue. Initiatives are also underway to work collectively on the enhancement of professional education in the financial markets.