NYSE Euronext and Microfis are planning to establish a new organized market for listing and trading of bonds based on debt from international microfinance institutions and solidarity businesses as defined by the Economic Modernisation Act (LME).
NYSE Euronext said that the new market segment will offer investors with new products in secure and transparent environment and will enforce strict standards of supervision and efficient operation.
Microfis will handle origination, analysis and tracking of high-quality assets, as well as their transformation into tradable securities and their syndication.
According to the NYSE Euronext, the new market segment scheduled to be launched in the last quarter of 2010, will be dedicated to Responsible Finance will reinforce the attractiveness of Paris as an international financial center.
Dominique Cerutti, deputy CEO of NYSE Euronext, said: “This initiative testifies to NYSE Euronext’s ongoing commitment to strengthening the different communities in which we work through concrete, innovative responses to the challenge of financing.”
Cyrille Parant, chairman of Microfis, said: “Microfis was set up to meet needs exacerbated by the current crisis of returning finance to its true role: matching savings with real economy’s investment needs. By working together to provide the technical resources to create a new class of assets in Paris, NYSE Euronext and Microfis are meeting this ambitious goal, and the creation of a special market segment represents a major step ahead.”