NYSE Euronext is pleased to announce that it is now possible to list commercial paper (maturing in a year) on the regulated market of Euronext Lisbon.
This initiative comes in response to requests from the Portuguese financial community, and it has been implemented on the basis of close cooperation between Euronext Lisbon, the Bank of Portugal, and CMVM (the Portuguese regulator)
As a result, commercial paper that will be listed on the regulated market will meet one of the necessary conditions in order to be eligible for short-term refinancing at the Eurosystem.
The Euronext Lisbon commercial paper market will be open from 6.00 a.m. to 6.00 pm for block trading of minimal amounts of €150,000. Transactions will be recorded by Euronext Lisbon and settled mainly through the real time settlement system (SLrt) managed by Interbolsa.
Trades recorded by Euronext will be reported to the market on the following trading day, on an aggregated basis with data including opening and closing prices, highs and lows, and the amounts traded.
Miguel Athayde Marques, CEO of Euronext Lisbon, said: “In changing times like we are living in today, the capacity of the regulated markets, such as Euronext Lisbon, to quickly respond to new market needs and to balance the interests of all market participants is a determinant factor for an orderly and efficient return to market confidence.”
Miguel Geraldes, Head of Markets of Euronext Lisbon, comments: “This new initiative gives Portuguese Banks and companies an opportunity to use this type of product as collateral for refinancing operations in line with the European Central Bank requirements.”
Marie-Hélène Crétu, Director of Fixed Income of NYSE Euronext comments “I am delighted that Euronext Lisbon is addressing the demand of the Portuguese market in adapting the Commercial Paper listing initiative thus providing an efficient solution to the current difficult market conditions”.