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Electronic trading – a boost to ESM bond market resilience
Electronic trading has led to faster trading environments, enhanced transparency, and improved liquidity. These benefits contribute to the effective operation and regulation of financial markets, supporting greater financial stability.The European Stability Mechanism (ESM) and its predecessor, the European Financial Stability Facility (EFSF), fund themselves primarily through the sale of bonds, which are complemented by short-term bills and, more recently, commercial paper securities. […]