NYSE Euronext said it will create a “market segment” that lists and trades bonds based on debt from international microfinance institutions.
The bond market will also feature bonds based on debt from “solidarity businesses,’’ established for social good, as defined by Europe’s Economic Modernisation Act (LME).
NYSE Euronext operates the New York Stock Exchange, or the Big Board, and other trading venues on both sides of the Atlantic.
The new “market segment” in bonds will be developed along with Microfis, a technology organization based in France which is trying to encourage trading in “financially responsible asset classes.”
Microfis said it will offer five services: origination, structuring and syndication of assets, listing on the new market segment opened by NYSE Euronext and tracking of issuers
Trading in the “Responsible Finance” market is scheduled for the last quarter of 2010, the two organizations said.
Europlace, which promotes the Paris financial marketplace, has backed the Microfis initiative. “Developing a new class of assets based on solidarity is a means of taking part in inclusive growth and contributing to greater economic and financial stability,” said Dominique Cerutti, deputy CEO of NYSE Euronext.
NYSE Euronext's equities markets – the New York Stock Exchange, NYSE Euronext, NYSE Amex, NYSE Alternext and NYSE Arca – represent one-third of the world's equities trading, the most liquidity of any global exchange group. NYSE Euronext also operates NYSE Liffe, one of the leading European derivatives businesses and the world's second-largest derivatives business by value of trading.