Anticipating the evolution of the regulatory framework, Powernext has carried out in 2013 all the necessary steps in order to become a Regulated Market. This demand obtained a positive opinion from the respective boards of Autorité de Contrôle Prudentiel et Résolution (ACPR) and from Autorité des Marchés Financiers (AMF) held in January 2014. On this basis, the Minister of Economics and Finance has granted the regulatory market status through an Order dated February 5th 2014 and published in the Official Journal of the French Republic on February 8th 2014.
The new market rules and status will take effect on February 12th 2014, date at which the reporting obligations of the EMIR regulation will also enter into force.
Since the launch of its historical Powernext Day-Ahead market on November 26th 2001, Powernext evolved with an investment firm status managing a multilateral trading facility (MTF) under the supervision of ACPR and AMF. Until now, this status offered both flexibility and security. However with the introduction of EMIR, the Regulated Market status became more adapted to the Powernext ambitions by providing the best execution comfort to its trading members.
By obtaining this status, Powernext becomes the second company managing a regulated market in France after NYSE Euronext, reinforcing the Paris financial center.
FTSE Mondo Visione Exchanges Index:
Powernext Becomes A Regulated Market
Date 11/02/2014