The Nouveau marché (New Market) was a French equity market that was a division of the
Paris Bourse
Euronext Paris, formerly known as the Paris Bourse (), is a regulated securities trading venue in France. It is Europe's second largest stock exchange by market capitalization, behind the London Stock Exchange, as of December 2023. As of 2022, th ...
, now called
Euronext Paris
Euronext Paris, formerly known as the Paris Bourse (), is a regulated securities trading venue in France. It is Europe's second largest stock exchange by market capitalization, behind the London Stock Exchange, as of December 2023. As of 2022, th ...
.
History
The Nouveau marché was founded in 1996 to facilitate access to the
financial market
A financial market is a market in which people trade financial securities and derivatives at low transaction costs. Some of the securities include stocks and bonds, raw materials and precious metals, which are known in the financial marke ...
by new
start-ups with high growth potential but insufficient financing. Only newly formed companies were allowed access to the Nouveau marché, which was envisioned as a French equivalent to
NASDAQ
The Nasdaq Stock Market (; National Association of Securities Dealers Automated Quotations) is an American stock exchange based in New York City. It is the most active stock trading venue in the U.S. by volume, and ranked second on the list ...
in the
United States
The United States of America (USA), also known as the United States (U.S.) or America, is a country primarily located in North America. It is a federal republic of 50 U.S. state, states and a federal capital district, Washington, D.C. The 48 ...
.
Created simultaneously with the Nouveau marché was a German counterpart, Neuer Market, and a British counterpart, the
Alternative Investment Market
AIM (formerly the Alternative Investment Market) is a sub-market of the London Stock Exchange that was launched on 19 June 1995 as a replacement to the previous Unlisted Securities Market, Unlisted Securities Market (USM) that had been in opera ...
.
To be allowed on the Nouveau marché, companies needed a minimum of 1.5 million
euros
The euro (currency symbol, symbol: euro sign, €; ISO 4217, currency code: EUR) is the official currency of 20 of the Member state of the European Union, member states of the European Union. This group of states is officially known as the ...
in capital, among other requirements.
Most of the companies listed on the Nouveau marché companies were in the technology sector.
A November 2000 article in the ''
Wall Street Journal
''The Wall Street Journal'' (''WSJ''), also referred to simply as the ''Journal,'' is an American newspaper based in New York City. The newspaper provides extensive coverage of news, especially business and finance. It operates on a subscriptio ...
'' stated that the Nouveau marché was “headed into hibernation.” During the first half of the year, there had been 40 initial public offerings, but during the rest of the year only eight IPOs had been added to the market. According to “market watchers,” wrote Mathilde Richter, “Nouveau Marche IPOs are going to become as rare as black truffles.” The problem, she explained, was a “glutted” IPO market and investors who had “tired of unprofitable Internet companies coming to market and disappointing at earnings season.” Richter quoted Francois Dubrule of the Paris-based venture-capital fund Angel Invest as saying that the market was “saturated.” In short, the “rosy days” of the Nouveau marché were apparently over.
On February 21, 2005, Euronext Paris created a single
regulated market, Eurolist, to replace the Premier Marché, Second Marché, and Nouveau Marché.
See also
*
Paris Bourse
*
Euronext Paris
Euronext Paris, formerly known as the Paris Bourse (), is a regulated securities trading venue in France. It is Europe's second largest stock exchange by market capitalization, behind the London Stock Exchange, as of December 2023. As of 2022, th ...
References
{{reflist, 2
Financial markets
Stock exchanges in Europe
Economy of France
1996 establishments in France