Euronext is to launch Euronext Expert Market, the first European Multilateral Trading Facility (MTF) dedicated to non-listed securities, on Tuesday December 9, 2014.
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Euronext Expert Market is an electronic trading platform that aims to facilitate the sale of non-listed securities by organizing weekly auctions. The post-trade workflow will be standardized and automated to improve the transparency of the market as well as making it more efficient.
“There is an evident need in the market for a venue where non-listed securities can be traded,” says Vincent Van Dessel, CEO of Euronext Brussels. “The ongoing disintermediation and growing number of private initiatives on the primary market, including crowd-funding, boost the demand for a reliable and transparent secondary market. With the Euronext Expert Market, we are more than ever playing our role as a centre for financing the real economy as we will be able to offer a transparent and secure platform for trading all types of financing instruments.”
As of Tuesday, weekly electronic auctions will take place every Tuesday for securities, bonds and other fixed income instruments.
The platform will be based in Belgium, replacing the former floor-traded Belgian Public Auctions Market (Marché des Ventes Publiques / Markt van de Openbare Veilingen) as it moves toward electronic trading.
“By converting a market that is over 140 years old into a modern venue, we are taking advantage of our knowledge of handling a huge range of financial instruments and combine it with the unique experience of our specialised brokers and banks,” says Van Dessel.