Thursday February 6 2014
News Source: Global Exchanges
Focus: Trading Systems and Technology
Type: General
Euronext, a wholly owned subsidiary of IntercontinentalExchange Group (NYSE: ICE), welcomes the publication in France of the decree authorising active open-end funds to be admitted to trading on regulated markets or multilateral trading facilities.
Following this legislative change, Euronext will soon admit active open-end funds to trading on its regulated market in Paris. These will be available for trading on the Net Asset Value (NAV) Trading Facility. Euronext is working closely with asset managers and key market participants to develop this new service. The launch is planned to take place in the second quarter of 2014 and will build on Euronext Amsterdam’s fund service that has successfully operated in the Netherlands since 2007.
The Euronext Fund Service will respond to these needs by offering a complementary cross-border distribution network across its markets. The service will offer asset managers additional visibility for their open-end funds and access to a broad base of domestic and international investors through Euronext’s community of over 200 member firms across Europe. The ability to trade funds on Euronext Paris will allow active open-end funds to compete with other asset classes, such as equities and bonds.
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