Euronext Paris
France's regulated securities market and the Paris operating venue of the pan-European Euronext exchange group.
Last updated November 4, 2026
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Overview
Euronext Paris is the French regulated securities-trading venue operated within Euronext, the pan-European exchange group. It is the modern successor to the Paris Bourse, a market whose institutional history reaches back to the early eighteenth century. The exchange provides listing, trading and market-information services for French and international securities, while also supporting derivatives and commodity contracts associated with the Paris marketplace. The Paris market first gained prominence during the Law system, when John Law's Company shares were traded in Paris between 1717 and 1721. A government decree in 1724 supplied the market with a more permanent regulatory framework. Over subsequent centuries, the market moved among several Paris locations before settling in the Palais Brongniart in 1826. The neoclassical building became the best-known physical symbol of the Paris stock exchange and remained associated with French securities trading long after the exchange's operations became electronic. For much of the nineteenth and twentieth centuries, official brokerage on the Paris market was controlled by the Compagnie des agents de change. These formally appointed brokers operated an order-driven market and were subject to rules governing eligibility, commissions and market conduct. Alongside the official market, a parallel unregulated or differently organized market known as La Coulisse also operated for many years. This institutional structure was substantially changed by financial-market reforms enacted in 1988, which transferred ownership and governance to the former brokers' organization after its transformation into the Société des Bourses Françaises, or SBF. Technology became a defining part of the exchange's modernization. The Paris Bourse began introducing electronic trading in 1986 through a computer-assisted system known locally as CAC. By 1989, quotations had been fully automated. The exchange also hosted France's principal derivatives activities, including MATIF and MONEP, before those markets were fully automated in 1998. In 1999, SBF absorbed the remaining MATIF and MONEP operations and adopted the name Paris Bourse-SBF. In September 2000, Paris Bourse-SBF joined with the Amsterdam and Brussels exchanges as a founding participant in the creation of Euronext. The Paris venue was subsequently rebranded Euronext Paris. The integration placed French cash equities, derivatives and related market services within a common European exchange infrastructure, including shared electronic trading technology. Euronext Paris now operates as one national market within a broader network that also includes venues in other European financial centres. The venue supports the admission and trading of equities, bonds, exchange-traded products and other securities. Its historical market segments included the Premier Marché for larger companies and major bond issues, the Second Marché for medium-sized companies, the Nouveau Marché for growth-oriented businesses and the non-regulated Marché Libre. Market structures and labels have evolved under French and European regulation, but the Paris venue continues to serve companies seeking access to public capital and investors seeking exposure to French and international issuers. Euronext Paris is closely associated with the CAC 40, France's leading equity index, as well as wider index families such as the SBF 120 and SBF 250. Its derivatives heritage includes MATIF contracts on interest rates and commodities and MONEP contracts on equities and indices. Trading is conducted electronically, with clearing arrangements provided through LCH, and standard cash-equity settlement is generally on a T+2 basis. The exchange's former home, the Palais Brongniart, is now used as an events venue, while Euronext Paris relocated its offices to La Défense in 2015. As of December 2023, Euronext Paris was described as Europe's second-largest stock exchange by market capitalization after the London…
History
The institutional history of Euronext Paris is rooted in the development of organized securities trading in Paris. The market became especially visible during the Law system, when shares in John Law's Company attracted extensive speculation from 1717 to 1721. After the collapse of that system, a government decree issued in 1724 provided the market with its first durable regulatory framework, although historians differ on whether that date should be treated as the absolute beginning of the Paris exchange. The market occupied several sites during its early history. It operated on rue Quincampoix until government action closed it in March 1720, then moved to locations including place Vendôme, the garden of the Hôtel de Soissons and the Hôtel Tubeuf complex. Trading was suspended during the upheaval of the French Revolution in 1793. It reopened briefly in the Louvre in 1795, later moved to Notre-Dame-des-Victoires, then to the Palais-Royal and, in 1818, to the former Couvent des Filles-Saint-Thomas. A purpose-built home was eventually constructed nearby. Alexandre-Théodore Brongniart designed a monumental neoclassical building, but died before completion; Éloi Labarre finished the project between 1813 and 1826. The exchange moved into the completed Palais Brongniart on 6 November 1826. Later additions between 1901 and 1905 created the building's expanded cruciform layout. The Palais Brongniart became the enduring architectural symbol of the Paris Bourse, even though the exchange later moved its operating offices and ultimately left the building. From the second half of the nineteenth century until the late twentieth century, the official Paris market was administered by the Compagnie des agents de change. Its members were selected under a tightly regulated system and acted as intermediaries rather than dealers trading for their own accounts. The resulting market was principally order-driven. A separate parallel market, La Coulisse, also operated for much of this period. Commodity trading was initially housed alongside securities trading but moved to the Bourse de commerce in 1889. The exchange experienced a major technological transition in the late twentieth century. It began implementing computer-assisted trading in 1986, using a Paris version commonly identified as CAC. Quotations were fully automated by 1989. The Palais Brongniart also hosted MATIF, the French futures exchange, and MONEP, the equity and index options market, until these activities were fully automated in 1998. Financial legislation in 1988 transformed the exchange's governance and ownership. The former brokers' organization became the Société des Bourses Françaises, or SBF. In 1999, SBF absorbed the remaining MATIF and MONEP operations and changed its name to Paris Bourse-SBF. This restructuring prepared the Paris market for integration with other European exchanges. In September 2000, Paris Bourse-SBF joined the Amsterdam and Brussels exchanges in forming Euronext. The Paris operation became Euronext Paris, a national venue operating within a shared European exchange group. Its products were migrated toward common electronic infrastructure, including the NSC trading system used across Euronext markets at the time. Cash transactions were cleared through LCH.Clearnet, while the Paris derivatives heritage continued through MATIF and MONEP activities. Historically, the French equities market was organized into the Premier Marché, Second Marché and Nouveau Marché, with the non-regulated Marché Libre administered separately by Euronext Paris. The Premier Marché served larger French and foreign companies and major bond issues; the Second Marché focused on medium-sized companies; and the Nouveau Marché was intended for high-growth businesses seeking expansion capital. These labels reflected earlier stages of French market organization and have since been superseded or revised by later Euronext and European regulatory structures. The Paris venue's public identity is also tied to its indices. The CAC 40 became the principal benchmark for the French equity market, while the SBF 120 and SBF 250 broadened coverage across large and medium-sized companies. Euronext Paris also maintained indices for medium-capitalization shares, growth-market securities and convertible bonds. Its derivatives markets covered interest rates, equities, indices and commodities including agricultural and other European contracts. Euronext Paris left its former rue Cambon offices and moved to La Défense in 2015. The Palais Brongniart was no longer used as the exchange's operating headquarters and was converted into an events and conference venue. Today, Euronext Paris remains the French operating market of Euronext N.V., providing regulated listing and trading infrastructure within an integrated European exchange network. The venue was identified as Europe's second-largest stock exchange by market capitalization after the London Stock Exchange in December 2023, and the 2022 reference data described 795 listed companies with aggregate capitalization above US$4.58 trillion.
- 2015
Relocation to La Défense
[1]Euronext Paris moved its offices from rue Cambon to La Défense.
- 2000
Paris joins Euronext
[1]Paris Bourse-SBF became a founding national market of Euronext alongside Amsterdam and Brussels and was later rebranded Euronext Paris.
- 1999
Creation of Paris Bourse-SBF
[1]SBF absorbed the remaining MATIF and MONEP operations and adopted the Paris Bourse-SBF name.
- 1998
Derivatives markets fully automated
[1]MATIF and MONEP activities hosted at the Palais Brongniart became fully automated.
- 1989
Quotations fully automated
[1]The transition from open outcry toward electronic quotation was completed.
- 1988
Governance reform
[1]New legislation restructured ownership and governance, with the brokers' organization becoming the Société des Bourses Françaises.
- 1986
Electronic trading introduced
[1]The Paris Bourse began implementing computer-assisted trading through its CAC system.
- 1889
Commodity exchange leaves the stock-exchange building
[1]The commodities exchange moved to the present Bourse de commerce, separating it from the securities market's principal premises.
- 1826
Move to the Palais Brongniart
[1]The Paris stock exchange moved into its purpose-built neoclassical headquarters on 6 November.
- 1724
First durable regulatory framework
[1]A government decree established a more permanent regulatory basis for organized securities trading in Paris.
Products and positioning
A regulated French securities venue embedded in Euronext's integrated pan-European exchange network, combining public-market access, electronic trading, listings, indices and derivatives.
Equities
Cash equities
Euronext Paris provides regulated trading and listing infrastructure for French and international companies whose shares are admitted to the Paris market. Historically, equities were organized across the Premier Marché, Second Marché and Nouveau Marché, reflecting issuer size, liquidity and growth profile. These legacy categories have been replaced or revised by later Euronext and European market structures, but the venue continues to support public-company financing and secondary-market trading.
Fixed income
Bonds and fixed-income securities
The Paris market has historically admitted major bond issues alongside equity securities. Its regulated infrastructure supports the listing and trading of debt instruments issued by companies and other entities, giving investors access to fixed-income securities through the French market.
Futures and options
MATIF
MATIF is the derivatives market historically associated with Euronext Paris. Its contracts have included futures and options on interest-rate products and commodities. The market formed an important part of France's transition from floor-based trading to electronic derivatives trading and was integrated into the Paris exchange structure before the creation of Euronext.
Equity derivatives
MONEP
MONEP is the Paris equity and index derivatives market. It has supported short- and long-term stock options together with futures and options on equity indices, including products linked to major market benchmarks. Its operations were incorporated into the broader Paris Bourse-SBF structure in 1999.
Index
CAC 40
The CAC 40 is the principal benchmark associated with the French equity market and Euronext Paris. It is disseminated in real time and tracks a selection of leading companies listed in Paris. The index is widely used as a market indicator and as the basis for investment products and derivatives.
Indices
SBF index family
The broader SBF index family historically included the SBF 120, SBF 250, MIDCAC and market-segment indices. These benchmarks extended coverage beyond the largest companies and were used to compare portfolios, design investment products and measure segments of the French equity market.
Commodities
Commodity derivatives
The Paris derivatives offering has included futures and options on European agricultural and other commodity products, such as rapeseed, rapeseed meal, rapeseed oil, milling wheat, corn, wood pellets, dairy products and Paris real estate. Availability and contract specifications may change with Euronext's market design.
Brand decisions
2015
Move operating offices to La DéfenseOtherBackground
The exchange no longer required the historic Palais Brongniart as its operational trading floor after the transition to electronic markets.
Action taken
Euronext Paris relocated its offices from rue Cambon to La Défense.
Aftermath
The Palais Brongniart was repurposed as an events venue, while Paris's exchange activity continued through electronic infrastructure.
2000
Join the Euronext combinationM&ABackground
European exchanges were consolidating to create larger, technologically integrated trading platforms.
Action taken
Paris Bourse-SBF joined the Amsterdam and Brussels exchanges as a founding participant in Euronext.
Aftermath
The Paris market became Euronext Paris and operated as the French venue within a cross-border exchange network.
1988
Reform exchange governanceStrategyBackground
French legislation sought to modernize the organization and ownership of the Paris stock exchange.
Action taken
Ownership was transferred to the former Compagnie des agents de change, which renamed itself the Société des Bourses Françaises.
Aftermath
The reform created the corporate structure that later became Paris Bourse-SBF and enabled participation in the formation of Euronext.
1986
Adopt electronic tradingStrategyBackground
The Paris Bourse operated largely through open outcry and floor-based interaction during the late twentieth century.
Action taken
The exchange began introducing the computer-assisted CAC trading system and completed quotation automation by 1989.
Aftermath
The change laid the technological foundation for later integration with Euronext's shared electronic trading infrastructure.
Recent events
MaaT Pharma completes IPO[3]
Reported:
MaaT Pharma announced the successful completion of its initial public offering, raising €31.5 million through a capital increase. Trading on Euronext Paris was scheduled to start on November 8, 2021.
Sources3 sources
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