Paris, 07 November 2018 – Euroclear France, in collaboration with the management consulting firm, Ailancy, has led an industry working group to explore the issue of investors transparency. The group has published a report that proposes concrete measures to allow issuers to better know the owners of their securities.

The working group comprised of stakeholders from across the financial market ecosystem, representing issuers, asset managers, banks and financial market infrastructures. The group focused on how Identifiable Bearer Securities service (known as TPIs in France) could be improved to meet user requirements and regulatory developments, such as the European Shareholder Rights Directive. The working group considered how the service can benefit the issuers of investment funds to help with the increasing regulatory and marketing requirements of asset managers.

The Identifiable Bearer Securities service offers a reliable and automated process, through Euroclear France, for issuers of all asset classes to identify their shareholders.

The report proposes a number of recommendations to extend the benefits of Identifiable Bearer Securities services, including:

  • Enriching and standardizing the information communicated to issuers
  • Reducing deadlines to transmit results
  • Using new technologies such as API
  • Ensuring the service is more competitive and accessible to all categories of issuers

The full report is available below.

Brigitte Daurelle, Chief Executive Officer of Euroclear France commented: “We are very proud to have worked together with financial market participants to improve shareholder transparency and governance. Through such initiatives, the Place de Paris is taking concrete steps to become an even more attractive, competitive and transparent European financial market.”

Thibaut de Lajudie, Associate at Ailancy added: “Knowledge of their investors and shareholders is an important issue for issuers and asset management companies. The entire chain of financial intermediaries, distributors and account holders in France and abroad, face new requirements. Therefore, standard and pan-European tools are needed, allowing real industrialisation of this process to guarantee efficiency, security and cost control.”

The report (in French)

The report (in English)

Note to editors

Euroclear group is the financial industry’s trusted provider of post trade services. At the core, the group provides settlement, safe-keeping and servicing of domestic and cross-border securities for bonds, equities and derivatives to investment funds. Euroclear is a proven, resilient capital market infrastructure committed to delivering risk-mitigation, automation and efficiency at scale for its global client franchise.

The Euroclear group includes Euroclear Bank - which is rated AA+ by Fitch Ratings and AA by Standard & Poor’s - as well as Euroclear Belgium, Euroclear Finland, Euroclear France, Euroclear Nederland, Euroclear Sweden and Euroclear UK & Ireland. The Euroclear group settled the equivalent of EUR 733 trillion in securities transactions in 2017, representing 215 million domestic and cross-border transactions and held EUR 28.6 trillion in assets for clients.


Vous pouvez consulter le communiqué de presse en anglais ici

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