Euronext to launch secondary market for non-listed securities

InnovationEuronext has announced the launch of its Euronext Expert Market, an electronically traded secondary market platform for the sale of non-listed securities by weekly auction.

Based in Belgium, the Euronext Expert Market is categorised as a multilateral trading facility, and will replace the former floor-traded Belgian Public Auctions Market.

The platform will be open to all investors through their bank or broker. From its launch on 9 December, weekly electronic auctions will take place every Tuesday for securities, bonds and other fixed income instruments.

Euronext says the Euronext Expert Market will help to finance the real economy by enhancing the visibility and the accessibility of securities that belong mostly to non-listed small companies and family businesses.

The firm also says that standardising and automating the post-trade chain will make the market more transparent and efficient.

Vincent Van Dessel, chief executive officer of Euronext Brussels, says that the market needs to become a modern venue where non-listed securities can be traded.

"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," he adds.

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