This new Strategic Planning Committee is charged with assisting the NYSE Euronext Board of Directors in all decisions relating to SMEs. It will help define the market operator's strategy for facilitating SME access to capital markets, and will ensure that the entire market ecosystem is regularly consulted and plays an active role in discussions.
Fabrice Demarigny, a lawyer with Marccus Partners, Head of Capital Market Activities at Mazars Group and author of a report on the Small Business Act for Europe, chairs the new committee, and will ensure that it works closely with Roland Bellegarde, Group Executive Vice President in charge of European listing and cash trading activities at NYSE Euronext.
To meet its goals, the new committee brings together individuals known for their expertise and experience as French, Belgian, Dutch and Portuguese intermediaries, investors and issuers. Initial members include:
“We are delighted that this diverse and complementary group of high-profile leaders has accepted our invitation to join NYSE Euronext's Strategic Planning Committee for SMEs. The time has come to focus more attention on making these companies' needs a priority for all of the stakeholders that support and participate in their growth,” said Dominique Cerutti, President and Deputy CEO at NYSE Euronext.
“The stock exchange is a powerful tool for raising capital, and European companies do not use it enough. Today only 3 0% of their financing comes from financial markets, with 70% provided by bank credits and private equity, and the figure is even lower for SMEs. A major effort is needed to reduce the obstacles facing the many companies that would like to diversify their sources of financing by listing or through increased use of the secondary market,” he added. “Through this new committee and its initiatives, we want to make Europe's economic fabric more competitive and more dynamic, building on cross-border and regional strengths.”
Fabrice Demarigny, Chairman of the Strategic Planning Committee, a lawyer with Marccus Partners, and Head of Capital Market Activities at Mazars Group said, “In time of crisis, it is more important than ever for markets to meet the financing needs of SMEs. As the Rameix/Giami report quite rightly points out, a host of initiatives are already under way and we welcome NYSE Euronext in its role as driver. By creating the Strategic Planning Committee, it is reaffirming that commitment. Working with our Committee's members and bringing in all stakeholders from major financial markets, we will be making concrete proposals to ensure that the exchange is the most effective tool for raising capital –for both listed companies and candidates for listing –in the new environment created by the crisis.”
NYSE Euronext welcomes yesterday’s announcement of the creation of a fund specialized in listed SMEs by major investors. The Group is also carefully studying the Rameix/Giami report on how financial markets can offer effective financing solutions to help SMEs – vectors for innovation, growth and employment – secure the capital they need to expand.
The first task of the Strategic Planning Committee will be to examine the report’s key proposals on ways forward: revising the current framework for action by NYSE Euronext where SMEs are concerned, spinning off the market operator as a subsidiary and opening its capital to outside investors, and opening markets up to greater competition.
Drawing on the committee’s work, NYSE Euronext will be prepared to initiate a dialogue with the Caisse des Dépôts et Consignations with a view to working together to enhance the effectiveness and availability of NYSE Alternext in financing SMEs.
The committee is expected to release its initial conclusions at the end of July 2012.
NYSE Euronext (Paris) – Caroline Tourrier: +33 1 49 27 10 82 – firstname.lastname@example.org
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