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Various electronic trading platforms offer automatic matching of buy and sell orders or operate as centralised exchanges. In asset classes like equities and commodities, most trading is now conducted on electronic exchanges or via high-frequency automated platforms. Over the past two decades, euro area government bond markets have also moved predominantly to electronic trading.

The event is organised by the European Commission.

Link to register: Register for the Internal Audit Service (IAS) Conference 2024 - European Commission

Title: Saving for stability: Greece’s Recovery and Resilience Plan and its impact on the external position

Summary: This paper presents a small open-economy general equilibrium model to track the dynamic effects of the RRP/RRF on savings, investment, and external balances in Greece. 

Authors: Zamid Aligishiev and Robert Blotevogel (ESM)

The result of the auction of 19 November 2024 for the 6-month Bills of the ESM was as follows:

Total Bids: €3,360.00mn
Competitive bids: €914.00 mn
Non-competitive bids: €2,446.00 mn
Allotment / Issue volume: €1.095.34 mn

Current estimates of AI's impact on productivity and economic growth vary widely, but there is a general agreement that its benefits will be unevenly distributed across countries, industry sectors, and societies. The AI value chain—from raw materials for semiconductors to data availability, computing power, and investment capacity—is concentrated mainly in the United States (US) and China, posing risks of dependency and instability for Europe.

Title: Financial imbalances and macroeconomic tail risks: A structural regime-switching investigation

Summary: This paper examines how excessive credit growth and asset price overvaluation increase the likelihood of financial crises and deepen associated economic downturns, and assesses the implications for monetary and macroprudential policies.