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Policymakers, regulators, and financial industry leaders gathered in Dublin earlier this month for the 2026 Eurofi Financial Forum, held in collaboration with the Irish EU Council Presidency on the eve of the informal Ecofin meeting. Twice annually, Eurofi convenes senior figures from the public and private sectors to shape discourse on Europe’s financial, regulatory, economic, and technological trajectory.
A delegation from Nasdaq, led by Nikolaj Kosakewitsch, Head of European Market Services; Roland Chai, Head of Digital Liquidity Networks; and Kamlesh Harry, Principal Strategic Advisor at Nasdaq Verafin, joined global policymakers, regulators, and industry stakeholders from across Europe and beyond for three days of dialogue covering capital markets competitiveness, the Savings and Investments Union (SIU), tokenization and digital assets, artificial intelligence, and financial crime mitigation.
Advancing market structure reform discussions
Kosakewitsch participated in the panel “Securities Trading: Fragmentation, Future Trends and MISP Implications,” where attendees analyzed the proposed Market Integration and Supervision Package (MISP) and its potential to reduce fragmentation, enhance liquidity, and improve the efficiency of European capital markets.
“There is a significant opportunity to make European capital markets more efficient, competitive, and attractive through the effective implementation of MISP,” Kosakewitsch stated. “Discussions in Dublin highlighted a growing commitment across both public and private sectors to transition from dialogue to action, strengthening Europe’s standing in global capital markets.”
This momentum persisted throughout the full three-day event, with consensus building across sectors toward reforms designed to foster a more integrated, globally competitive European marketplace.
Redefining capital markets through tokenization
Chai presented Nasdaq’s strategic perspective on digital assets, emphasizing their potential to transform foundational aspects of European market infrastructure.
“The promise of tokenization extends beyond digitizing existing processes—it offers a chance to reimagine capital market operations,” Chai explained. “By diminishing friction, enhancing transparency, and simplifying post-trade activities, tokenization can address persistent structural challenges in European markets. When paired with integration initiatives like the SIU, it positions Europe’s capital markets to be more efficient, accessible, and globally competitive.”
Addressing AI-driven financial crime challenges
On the payments and financial crime front, Harry contributed to the panel “Retail Payment Innovation in the AI Era,” where discussions centered on how financial institutions are leveraging AI, behavioral intelligence, and advanced analytics to combat fraud, even as criminal networks deploy these technologies to operate with increased speed and sophistication.
“As criminals evolve and cross borders with greater agility, collaboration becomes imperative,” Harry emphasized. “All stakeholders—financial institutions, regulators, law enforcement, technology providers, and payment networks—must unite. Trusted data sharing and collective strategies will be critical to staying ahead of increasingly complex financial crime threats.”
Forum participants expressed strong support for enhanced cross-border cooperation and data sharing, with optimism surrounding the EU’s new Anti-Money Laundering Authority (AMLA) and its potential to establish a more cohesive, pan-European approach to financial crime prevention.
Future outlook
Across panels, speakers underscored the need for European financial sectors to prioritize integration, simplification, and cross-border collaboration to remain globally competitive.
Nasdaq leaders also contributed two articles to the biannual Eurofi Views Magazine: Kosakewitsch on fortifying EU market structure for enhanced competitiveness and integration, and Stephanie Champion, Head of Nasdaq Verafin, on safeguarding Europe’s financial systems in the era of AI-driven threats.
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