Put a SocGen in it for Euronext’s new fund investment model
Societe Generale Securities Services (SGSS) is contributing to a new model, Euronext Fund Service, to help investments in funds for domestic and international investors.
Launched by Euronext and available from 15 May 2017, this new service will enable institutional and retail investors to place subscription/redemption orders, in a “simplified and automated manner”, through their brokers for open-end funds that are registered or passported in France.
As a fund agent registered with Euronext, SGSS will process orders placed by investors through their brokers, from order reception to settlement.
SGSS says this runs parallel to initiatives such as the FROG working group (great name – and stands for French Routes and Opportunities Garden). The latter promotes France’s market positioning within the European asset management industry.
Mathilde Guérin, head of product engineering at SGSS, adds that it supports “innovative changes which highlight both the expertise available on the Paris market and the capacity to adapt its infrastructures in response to market expectations”.
The FROG group, created by the French regulator (Autorité des Marchés Financiers) and the French Asset Management Association (AFG), shares the objective to provide French and foreign asset management firms that have chosen to locate their investment funds in France with the “best possible conditions for international growth”.
