09 March 2026 | Report / study | Typology of participants on the french equity market As part of its market surveillance activities, the Autorité des Marchés Financiers (AMF) has examined, over the period 2019-2024, changes in the typology of participants (asset management companies, banks, issuers, retail investors) in the French equity market, as well as the evolution of their investment behaviours. … own shares (740 participants) ; • High-Frequency Traders (HFT): expert-based classification grouping high-frequency … observed by traded amounts, the market share of HFT in net balances becomes significatively smaller (around … 22 below. Graph 22: Evolution of the amount traded by HFT at Euronext Paris closing auction (source: RDT-TREM, AMF) … |
03 July 2025 | Report / study | 2025 Markets and Risks Outlook The AMF publishes its 2025 Markets and Risk Outlook, its annual description of trends and assessment of vulnerabilities and their impact on the financing of the economy, markets, investment funds and household savings. … Professional Specialised Funds GDP Gross domestic product HFT High-frequency trading ICMA International Capital Market … |
15 July 2024 | Report / study | 2024 Markets and Risks Outlook The AMF publishes its 2024 Markets and Risk Outlook, its annual description of trends and assessment of vulnerabilities and their impact on the financing of the economy, markets, investment funds and household savings. … juridique de la place financière de Paris HF Hedge funds HFT High-frequency trading HQLA High Quality Liquid Assets … |
08 July 2022 | Report / study | 2022 Markets and Risk Outlook The AMF has issued its 2022 Markets and Risk Outlook, a yearly assessment of trends and vulnerabilities. Marked by the deterioration of the financial environment under the combined effect of the war in Ukraine and the resurgence of health risks, the analysis focuses on economic financing, markets, household savings and collective investment… … ar -2 2 False saving accounts Fake listed securities and "HFT" Rooms in care homes Real estates and others Car parks … Ap r- 22 False saving accounts Fake listed securities and "HFT" Rooms in care homes Real estates and others Car parks … |
28 March 2022 | Warning | The AMF warns the public against fraudulent offers to buy listed shares at preferential prices In response to a large number of reports from retail investors, the Autorité des Marchés Financiers (AMF) is calling for the utmost vigilance with regard to offers to invest in the securities of listed large companies, whether foreign or French, at a price below their official price, by unauthorised actors or those impersonating regulated entities. … "share purchase contracts" or "high frequency trading" (HFT) savings accounts. Fake intermediaries also offer to buy … "share purchase contracts" or "high frequency trading" (HFT) savings accounts. Fake intermediaries also offer to buy … |
16 March 2022 | Report / study | Analysis of the execution of retail investor' orders in the first months of the Covid-19 crisis The Autorité des Marchés Financiers (AMF) has examined the destination of the retail investors' orders and the conditions under which they were executed on the Frenck stock market over the period between December 2019 and April 2020. The analysis used data from trades and orders in equities. … in terms of volumes traded on the HB is LP 3 the HFT, also active as an LP on the VBBO service, even though … |
01 July 2021 | Report / study | Effect of Speed Bumps: Analysis of the Impact of the Implementation of Eurex's Passive Liquidity Protection on French Equity Options This study analyzes the evolution of liquidity in French equity options following the implementation of a speed bump on Eurex, the German derivatives market, in June 2019. Using transaction data between January and December 2019, the AMF proposes a series of econometric analyses to account for its impact on Eurex and on Euronext. … The platform's stated goal is to attract "slow" (i.e. non-HFT) liquidity providers. An analysis published by TSX, in … trading (Hoffmann, 2014). More broadly, the increase in HFT speed appears to have reached a level where its benefit … trade-off currently observed in markets with increasing HFT speed: faster speed allows HFTs to anticipate orders more … |
18 November 2020 | News | Study of a new market model: AHEAD The AMF has published an academic research study conducted jointly by Mathieu Rosenbaum (professor and holder of the "Analytics and Models for Regulation" Chair at Ecole Polytechnique), Thibaut Mastrolia (Ecole Polytechnique), Joffrey Derchu (Ecole Polytechnique) and Philippe Guillot (AMF Markets Directorate) on an innovative model for order… |
07 October 2020 | Annual Report | AMF Annual Report 2019 2019 was marked by the following themes: Brexit, sustainable finance with actions launched by the AMF and the support for professionals for a transparent information; the implementation of the Pacte law and its many implications; and the entry into force of the Prospectus Directive. Find all the highlights and key figures of the AMF's activity in… … shows that it is possible to classify market members as HFT or non-HFT based on their aggressive orders, and highlights the … |
03 July 2020 | Report / study | 2020 Markets and Risk Outlook The AMF issued its 2020 Markets and Risk Outlook, an assessment of trends and vulnerabilities in the context of the COVID-19 crisis. It focuses more specifically on the functioning of markets, financial stability and the financing of the economy. … it is interesting to note that high-frequency trader (HFT) activity has also increased, with a market share of … share in orders submitted to the market (to 60% for pure HFT players) and a relative stability of the ratio of orders … Regulation HCSF High Council for Financial Stability HFT High Frequency Trading HQLA High quality liquid assets HY … |
