Societe ‎Generale ‎Taps Euronext’s Best Execution Tool

March 15, 2018

Pan-European exchange Euronext has partnered with Societe ‎Generale to provide retail investors of the French banking giant with “Best ‎Execution”, a solution that allows them to capitalise on the increasing ‎fragmentation of liquidity, which is also a major consequence of MiFID II.‎

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Euronext’s Best of Book provides customers in Societe Generale’s French ‎network with price improvement on over 550 stocks listed on Euronext markets, ‎traded through the exchange’s central order book. The tool works by adding a ‎layer of liquidity for retail flow while a group of ‘dedicated liquidity providers’ ‎compete openly to offer quotes that are at, or better than, the European ‎Best Bid and Offer.  ‎

The principle of offering clients best execution is required by ‎MiFID II rules, which came into force in January 2018, and has long been lacking ‎for retail investors. As such, the service enables users to benefit from a ‎greater quality of order execution, whilst facilitates compliance with ‎regulatory requirements for the brokerage community.‎

Commenting on the partnership, Laurent Goutard, Head of Societe ‎Generale Retail Banking in France, noted: “By offering Best of Book to ‎our investor clients, Societe Generale guarantees the best execution of ‎their buy and sell trades on European markets. Our customers gain ‎access to better prices for over 550 Euronext shares, including the ‎Societe Generale share. This solution is transparent and complies with ‎new regulations (MiFID II), and another reason to invest in shares ‎directly through our app or our website.” ‎

Anthony Attia, CEO of Euronext Paris, added: “Our partnership with ‎Societe Generale is a milestone in the expansion of our Best of Book ‎offer. Together, we will support retail investors by providing a ‎transparent and cost-efficient order execution service.” ‎

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