The Nouveau marché (New Market) was a French equity market that was a division of the

Paris Bourse Euronext Paris is France's securities market, formerly known as the Paris Bourse, which merged with the Amsterdam, Lisbon, and Brussels exchanges in September 2000 to form Euronext NV. As of 2022, the 795 companies listed had a combined market ...

, now called

Euronext Paris Euronext Paris is France's securities market, formerly known as the Paris Bourse, which merged with the Amsterdam, Lisbon, and Brussels exchanges in September 2000 to form Euronext NV. As of 2022, the 795 companies listed had a combined marke ...

History

The Nouveau marché was founded in 1996 to facilitate access to the financial market 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 Stock Market) is an American stock exchange based in New York City. It is the most active stock trading venue in the US by volume, and ranked second ...

in the

United States The United States of America (U.S.A. or USA), commonly known as the United States (U.S. or US) or America, is a country primarily located in North America. It consists of 50 states, a federal district, five major unincorporated territorie ...

. 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 (USM) that had been in operation since 1980. It allows ...

. To be allowed on the Nouveau marché, companies needed a minimum of 1.5 million

euros The euro (symbol: €; code: EUR) is the official currency of 19 out of the member states of the European Union (EU). This group of states is known as the eurozone or, officially, the euro area, and includes about 340 million citizens . T ...

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'' is an American business-focused, international daily newspaper based in New York City, with international editions also available in Chinese and Japanese. The ''Journal'', along with its Asian editions, is published ...

'' 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.

References

{{reflist, 2 Financial markets Stock exchanges in Europe Economy of France 1996 establishments in France

History

See also

References