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The project was developed in conjunction with market participants and is a key component of a dynamic financing framework designed especially for SMEs. It will make an active contribution to the range of measures for SMEs recently announced in France by the President, as well as to the various initiatives supporting SMEs prepared in Belgium, The Netherlands and Portugal.
The new entity will cover the current B and C compartments of NYSE Euronext's regulated market, as well as NYSE Alternext in each of the European countries where the group operates—a total of nearly 800 companies. Managed by a subsidiary set up in France for this purpose, it will have its own brand, operating budget and team.
Following discussions with market participants, NYSE has committed to a steep rise in resources earmarked for SMEs and will contribute an annual €18 million budget, with part of this going directly to the subsidiary now being set up. A range of promotional offers will be put in place once the new entity has been launched, with a 50% reduction in transfer fees for companies moving from the regulated market to NYSE Alternext, and a 10% reduction in listing fees.
This ambitious project will give NYSE Euronext a truly pan-European market dedicated exclusively to SMEs, with a central orderbook and a transparent market model.
President and Deputy CEO of NYSE Euronext, and Chairman of the Managing Board of Euronext NV Dominique Cerutti, said: "Given how difficult it can be for SMEs to secure financing in today's economy, it is essential that we take action—that is both our mission and our firm belief. NYSE Euronext is fully committed to assisting company leaders and all parties prepared to act to strengthen the entrepreneurial network, which makes a key contribution to growth and job creation. Small and mid-size companies, the market as a whole and government authorities can count on their longstanding market operator Euronext to make this innovative project a success and rally everyone to the cause."