Amsterdam, Brussels, Lisbon, London and Paris – 15 March 2018 – Societe Generale and Euronext announced today they are joining forces to offer retail investors “Best of Book”, Euronext’s best execution service. This service will enable customers in Societe Generale’s French network to benefit from a greater quality of order execution on the exchange at a competitive price
Launched in November 2016, Best of Book allows brokers to obtain superior execution quality in terms of price, speed and likelihood of execution for the 550 most liquid shares listed on Euronext markets. Specialised liquidity providers compete openly to offer quotes that are at or better than the European Best Bid and Offer[1]. Euronext works with market quality specialists (LiquidMetrix) to supply Best of Book clients proof of best European execution of their trades through daily reports. The service facilitates compliance with regulatory requirements for best execution for retail customers, as stipulated by MiFID I and MiFID II.
With over 30 brokers now connected to Best of Book, Euronext has brought together the entire broker community from its French, Belgian, Dutch and Portuguese markets since the service was launched.
“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,” said Laurent Goutard, Head of Societe Generale Retail Banking in France.
“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.” said Anthony Attia, CEO of Euronext Paris.
[1] EBBO (European Best Bid and Offer) refers to the best possible price of an instrument available on all European multilateral venues at the time of trade.
About Societe Generale
Societe Generale is one of the leading European financial services groups. Based on a diversified and integrated banking model, the Group combines financial strength and proven expertise in innovation with a strategy of sustainable growth, aiming to be the trusted partner for its clients, committed to the positive transformations of society and the economy.
Active in the real economy for over 150 years with a solid position in Europe and connected to the rest of the world, Societe Generale employs over 147,000 members of staff in 67 countries and supports on a daily basis 31 million individual clients, businesses and institutional investors around the world by offering a wide range of advisory services and tailored financial solutions. The Group is built on three complementary core businesses:
▪ French Retail Banking, which encompasses the Societe Generale, Crédit du Nord and Boursorama brands. Each offers a full range of financial services with omnichannel products at the cutting edge of digital innovation;
▪ International Retail Banking, Insurance and Financial Services to Corporates, with networks in Africa, Russia, Central and Eastern Europe and specialised businesses that are leaders in their markets;
▪ Global Banking and Investor Solutions, which offers recognised expertise, key international locations and integrated solutions.
Societe Generale is included in the principal socially responsible investment indices: DJSI (World and Europe), FTSE4Good (Global and Europe), Euronext Vigeo (Wolrd, Europe and Eurozosociétne) and four of the STOXX ESG Leaders indices, MSCI Low Carbon Leaders Index.