Company of purse

The companies of purse are Entreprise S which act for the account of their customers (customers, undertaken…) on the financial markets. The companies of purse are approved to act on the markets by Euronext. Some are limited to a simple role of transmitter of orders (discount broker), others on the contrary develop a service with strong added value (council in introduction, in f&a, financial Analyze…).

Called Undertaken Investments in France since the reform of the Authority of the Financial markets, the companies of purse receive an approval of the AFEI.

The companies of purse are either of the former brokers become subsidiary of banks (Nivard-Deutsche Bank, Bleichroeder-Natexis, Swiss Hottinguer-Credit) or of the independent firms selected " full broker" (Aurel Leven Securities, Bryan Garnier & Co, Oddo Securities) that is to say subsidiary companies create ex nihilo.

History

The companies of purse were initially called loads of stockbrokers. It is about a ministerial statute created by Napoleon and disappeared in 1989 at the time of the reform from the purse when the market with shouted was completely replaced by an electronic system of quotation in Paris.

Organization

A company of purse includes/understands a face office and a back office. The face office is composed of the salesmen called dirty, the financial analysts actions, derived and chartists while the back office gathers the lawyers, the accountants, the control of management, data processing and human resources.

Outlines

In November 2007, the application of the Directive on the markets of financial instruments (Mifid) will upset the activity of a sector already reorganized by successive fusions of the Entreprise S of purse

Some companies of purse members Euronext Paris

  • kbl France Management (range ÆDEN)
  • ABN Amro
  • Aurel Leven
  • BNP Paribas
  • Stock Exchange Direct
  • Citigroup
  • Lombard Odier Darier Hentsch
  • General society
  • Octo Finances
  • Oddo & Co

There are some more than 120 counsels by the AFEI.

External bonds

  • the French Association of the Companies of Investment

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