Paris, 10 July 2017 - Euroclear invites stakeholders to join a new industry working group to build an innovation roadmap to develop and enhance the French model for the distribution of funds to both domestic and foreign investors. The working group, chaired by independent management consultancy Ailancy, will bring together experts from key financial institutions servicing the fund industry.
Representatives from buy-side, sell-side, market infrastructure and industry associations will consider if and how new technology – such as blockchain – could bring value to the funds industry. In early 2018, the working group intends to publish a report that will set out concrete plans to further reinforce funds infrastructures.
Over the past years, Euroclear has contributed to the French funds industry’s efforts to increase international attractiveness, particularly through the work of the French [Routes and Opportunities] Garden (FROG) initiative.
Such collaboration has led to a number of new market initiatives (including the recent launch of Euronext Funds Service) and legislative changes that make the French funds distribution model more accessible for investors.
These industry efforts provide the working group with the experience and insights to map out and prioritise future opportunities, bringing additional transparency and efficiency to the funds marketplace.
Launching the initiative, Brigitte Daurelle, CEO of Euroclear ESES CSDs, said:
“Today marks another step for Euroclear in supporting the Place de Paris’ as a European fund centre. While France already offers a robust and efficient funds infrastructure, it must continue to look at innovative ways to make its funds industry even more competitive. This working group will do that and more: providing a roadmap for future development that we can put into action together.”
Thibaut de Lajudie, Partner at Ailancy, said:
“This working group will unite all the stakeholders of the value chain. It is a great opportunity for the Paris marketplace to speed-up the innovation trend and improve its competitiveness. We are very excited to have the opportunity to lead this group, mostly because we observe a great commitment and interest among participants when we drive innovation projects.”
Eric Pinon, President of the French Asset Management Association “AFG”, is delighted about this initiative:
“In the international competition, all improving processes aiming to increase the visibility and distribution of French investment funds abroad as well as to enhance customer knowledge are actively supported by the AFG. Moreover, a wider expansion of technological innovations will contribute to enhance the French asset management industry at the international level.”
Eric Dérobert, President of AFTI, commented:
“It’s a natural and logical step that AFTI and its members participate in this project that forms part of a continued service to the asset management industry. AFTI members have built up expertise that contributes to the efficiency and security of post-trade operations and, undoubtedly, their contribution will be significant to the success of this initiative.”
Didier Le Menestrel, Chairman and CEO of La Financière de l’Echiquier, Chairman of the FROG group said:
“All initiatives supporting the ambition of the French asset management industry and bringing its excellence across our borders is positive. With new technological solutions and the support of the regulatory authorities, our industry, strategically important for the financing of the economy, will have all the necessary attributes to intensify the distribution of French funds internationally.”
