The EPTF was established by the European Commission in early 2016 in the context of the Capital Markets Union (CMU) project. The aim of this expert group is to help the Commission undertake a broader review on progress towards removing any remaining barriers to cross-border clearing and settlement in Europe. This follows up on the work initiated by the Giovannini Group in the early 2000s and later pursued and implemented by various post-trade related expert groups, including EPTG, EGMI and the CESAME Groups.  
ICMA was a member of the EPTF, represented by Godfried De Vidts during his tenire as ERCC Chair, alongside other major financial market associations, the ESCB, ESMA and a number of independent experts. ICMA actively contributed to the important work of the EPTF, mainly through its ERCC Operations Group.

The final EPTF Report was published on 23 August 2017 alongside the Commission’s public consultation on “Post-trade in a Capital Market Union: dismantling barriers and strategy for the future”.

The ICMA ERCC submitted a response to the consultation by the deadline on 15 November 2017.

Related documents

EPTF: Final EPTF Report and detailed analysis of the European post trade landscape (Annex 3).

Commission Post-trade consultation: Full ICMA ERCC response (online questionnaire) and cover letter.


Alexander Westphal
Director, Market Practice and Regulatory Policy, Secretary to the ICMA European Repo and Collateral Council (ERCC)
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