Du monopole des sociétés de Bourse
Institution:
Paris 2Disciplines:
Directors:
Abstract EN:
The french markets were made up for over two and a half centuries of the physical grouping of stock brokers who had a monopoly for market transactions and whose numbers where limited by the authorities. The market reform resulting from the january twenty twoth, nineteen hundred eighty height law has caused in-depth change in the system. It has resulted in the stock brokers, i. E. Law officials, being replaced bybrokerage firms. The monopoly for transactions was sustained in favor of the latter, and the numerus clausus seems to have been abolishe nevertheless, the monopoly hazs tended to disapeear ever since, whereas a new form of member firms selection has tended to be reintroduced through the "seat" concept. The european community seems to be confirmed this trend.
Abstract FR:
Pendant plus de deux cent cinquante ans, les bourses francaises ont ete constituees de la reunion physique des agents de change qui avaient le monopole de la negociation des valeurs mobilieres et dont le nombre etait limite par l'autorite publique. La reforme boursiere issue de la loi du vingt deux janvier mil neuf cent quatre vingt huit a profondement modifie ce systeme. Elle a remplace les agents de change, officiers ministeriels, par des societes de bourse. Elle a maintenu un monopole de negociation au profit de ces nouveaux membres de bourse et a paru supprimer le numerus clausus. Or, l'evolution posterieure tend a faire disparaitre le monopole et a l'inverse a reintroduire avec la notion de siege de marche une nouvelle forme de selection des membres de bourse. Elle semble confirmee par la legislation communautaire.