US based exchange operator NYSE Euronext is planning to open a pan-European exchange next year, dedicated for small and medium-sized enterprises (SME), which will be developed in consultation with all of the group's European markets.
The proposal follows the recommendations of its strategic planning committee for SMEs and takes into account the fundraising problems faced by the companies.
The new exchange will provide a platform for companies presently listed in the B and C segments of the regulated markets and companies listed on NYSE Alternext, and it will draw nearly 800 issuers from the four countries in which NYSE Euronext operates in Europe.
The proposed exchange will have a subsidiary dedicated to developing SMEs market, with its own operating budget and team, which will execute NYSE Euronext’s existing federal business model.
It will have an open governance structure including a board of directors with 12 to 15 members representing stakeholders in markets operated by NYSE Euronext, as well as a users’ committee serving in an advisory capacity.
The operator manages exchanges in Europe and the US, including the New York Stock Exchange, NYSE Euronext, NYSE MKT, NYSE Alternext and NYSE Arca, and trades equities, futures, options, fixed-income and exchange-traded products.