The stock Market appears again, often to wrong, as a world apart and often a reserved universe to the initiated. Some think even that if one does not do left the warn, one risks doing more bad deals than of good ones. Nevertheless the potentialités remain attractive on long period.
But if it is true that the stock Market remains a risky market, she is not it more more more than more certain otherwise hazardous placements, such the creation and the development of businesses or very the real estate one obtain in of bad conditions more financial, more lawful and more fiscal.
To avoid too much disappointments, a counsel: take the time to learn and to read works and specialized magazines. Talk also with professionals. Otherwise says with specialized contractors in the stock Market and the placements, as the banks and other specialized establishments (stock Market corporations, notably, or e-brokers on Internet, affiliates of bank institutions). See also the insurance companies life. All can help you to begin, stimulate and to manage efficiently a stock market wallet. That, in financial conditions to discuss to benefit from the more and more weak expenses and of a true service. The Income that appears every week constitutes a "good school" to understand and act. what serves the stock Market?
This a big one walked where meet salesmen, to the research of capitals or of taken ones of more been worth, and buyers to the research of profits when the titles choose see their courses to increase. The salesmen of a day being maybe the buyers of tomorrow and inversely. For this is exactly the confrontation of operators having different beliefs on the increase perspectives or of decrease of the markets that participates in the organization of the stock Markets.
On these organized and controlled markets, actors negotiate titles to official prices called " the course ". This one can vary to every second on computer markets that referee the orders of the different operators.
The actors of the stock market market
The special ones are directly not very active. This are especially the big world-wide financial institutions. They manage at once the funds of pensions, the sicav, the FCP belonging to special as well as the capitals of institutions. They are the first actors of the stock market markets. You can therefore you to mix to those that buy or sell. That, through banks or intermediary attorneys allowing managing actions, obligations and all a series of stock market products more or less artificial.
Businesses, institutions and local groups come in fact on the stock market markets to look for capitals that will allow for them to finance, between other, investments to assure their development.
The different markets
The stock Markets respect precise conventions of organization. A business that looks for capitals by the bias of the stock market markets must fold themselves to certain requirements of rules and of financial transparency. Requirements that vary according to the concerned markets. Thus, the Paris stock Market, that now is associated in " Euronext " with the Belgian and Dutch stock Markets, works everyday working. One there distinguishes several stock market markets. Among the regulated markets, placed under the authority of the authorities, let us quote:
The First Market, The Walked Second, The New Market, The free Market. To which ones add those of the obligations and of various operations of " cover " or of speculation. The First Market
The First Market musters the most important quoted corporations. Be 468 values, fine June 2001, of which 171 permits of the purchases to credit to the SRD (to see more far), and 297 for which the regulation is done to the in cash. They are subjected to the accesses conditions the harshest ones. to know:
Put at the time of the introduction 25% at least capital (except dispensation) at the disposal of the investors to have obtained the visa of the Commission of the stock Market Operations (COB) To Publish uniformly the results of the business as well as the sales all the quarters To Make public by publication way all financial operation of breadth. The Walked Second
The Walked Second was created beginning 1983 to welcome size businesses average. They can thus obtain the necessary financings to their development. Considered as the antechamber of the official Market, his access is subjected to less harsh conditions, notably:
Put at least 10% capital at the disposal of the investors at the time of the introduction To Furnish periodically the news on the sales to have obtained the visa of the COB. The transactions are done to the in cash, except for elected values to the SRD (to see to SRD). This market is interesting to condition to follow by near life and the evolution of the corporations in which ones invest you.
The New Market
Created beginning 1996, it was put some places to support the development of businesses of high technology, to potential fort of growth and to allow for them to attain the stock market market.
Among the principal imperative one for these corporations, young mostly: to hold a million and half of Euros of funds, to be involved itself to yield 20% capital at the time of the introduction in stock Market, the titles offered having to represent at least five million Euros. This a walked to risk for the initiated nos to the stock Market because of the brittleness of the new businesses that the compose. It understands 167 fine corporations June 2001.
The free Market
The free Market, was created in September 1996. It is accessible for businesses of which entitle them are not admitted to the negotiations on the regulated markets. It behaves to June 30 2001 about 350 corporations. Thus, the inscription of the values is she free and left to the initiative of the shareholders or corporation.
The transactions are done to the in cash, c’est-à-dire with immediate payment, by negotiators of the Paris stock Market. The constraints are weaker than on the walked others. The volume of the transactions is equally often weak. One there runs therefore of bigger risks.
Ashu Felix Tambong
