Market Organization

In partnership with the Agence France Trésor (AFT) and the Specialists in Government Securities (SVT), NYSE Euronext has organized a secondary market for individual investors interested in trading OATs, allowing them to carry out any transactions of purchase and sale.

Like any title or security, OATs are transferable on the stock exchange at any time at market price. Individuals may participate through any market that is operated by NYSE Euronext, abides by the stock exchange regulations and meets the same standards of transparency and information.

NYSE Euronext's high liquidity means individuals can always find a price at which to buy or sell OATs. NYSE Euronext is committed to continuously displaying a range of prices and acting as a counterparty to all orders placed. It is both a market facilitator and liquidity provider, ensuring that investors have the liquidity they are entitled to expect as well as regular price information.

The following market-driving institutions have signed a liquidity contract with NYSE Euronext:

•Société Générale Securities (Paris)
•BNP Paribas Equities France
•HiQ Trading and Liquidity Providing
•Natixis
•Florint

How OATs are listed:
OATs available to individual investors are listed on NYSE Euronext as a dedicated trading group (group 45) and follow the same schedule and the same trading hours as stocks (9h-17h30). As with all securities, each OAT is identified by its unique ISIN.

OATs are not quoted in euro as stocks, but are listed with an interest rate and a percentage of nominal value, just like other bonds. 

Sample:
On September 12, 2005, the OAT 4% April 25, 2013 is available at 107.48% (excluding accrued interest of 1556%).

This means that the investor who wishes to buy 1000 shares must pay:
1 000 x (107.48% + 1.556%)

Live.euronext.com - Markets Paris

Live.euronext.com - Markets Paris

Discover our new Live Market website

 

LIVE.EURONEXT.COM