Corporate Actions Operations Internship

  • 1480.27
  • Paris, Ile-de-France, France
  • Internships & Graduate Trainee, Full time
  • Euronext stages
  • 04 Dec 17 2017-12-04

Euronext Market Services (EMS) is the front line for Euronext Cash, Derivatives and Commodities business with two operational centres in Amsterdam and Paris to ensure fair and orderly markets, including Market Surveillance, Corporate Actions, Euronext Indices, Euronext Market Data, Member on boarding and Hosted Commercial Markets.

The EMS Corporate Actions Department manages and coordinates the corporate actions on a global level with regards to all products listed on Euronext’s cash, derivatives, index and commodities markets.
The Euronext Market Services Corporate Action (EMS CA) team is responsible for the day-to-day handling of Corporate Actions end to end across Cash, Derivatives and Index asset classes. That includes

  • Listings of new products / contracts,
  • Data mining
  • CA Analysis
  • quality of referential,
  • contract / price adjustment,
  • Information to Market through Notices,
  • operational coordination with post trading partners / infrastructure such as Clearnet & Euroclear.

In that respect, EMS CA is working closely with the EMS UA team to ensure a smooth execution of any type of Corporate Action in terms of trading impacts and member understanding. This multi-language and highly skilled team is based in Amsterdam and Paris and is the first point of contact for any query related to the different topics mentioned above.

The EMS Corporate Actions Department operates as a virtual team across locations in which similar activities are combined and specific product knowledge is maintained. Where possible common tooling is used to facilitate timely information and efficient corporate actions processing across all products. Staff is cross trained across Cash & Derivatives CA activities for increased awareness and coordination within the team in CA activities across the products and to ensure continuity.

Corporate Actions Operations
Cash Corporate Actions Trainee is responsible for several of below activities:
1. Corporate actions analysis

  • Engages in day to day relationships with issuer and / or their representatives (Issuer Agent, Lawyers, etc)
  • Advises on Corporate actions design
  • Supports issuers implementing their corporate actions
  • Collects, reviews/understands required legal and offer/contract documentation
  • Populates Plug (tool to communicate a Corporate Action) and Score (tool used for Centralization of Public Offers) with the relevant parameters
  • Ensures listing of bonds, ETF and structured products
  • Ensures an operational coordination with post trading partners / infrastructure such as Clearnet, Euroclear & Interbolsa
  • Coordinates with the different internal stakeholders Listing, Product Management, Legal, Compliance etc where necessary.

2. Information to the market

  • Provides clients with information on the corporate actions and corporate actions updates by disseminating a Euronext notice
  • Prepares, validates Euronext Notices to inform market participants of a CA operations
  • Gives presentations to internal and external stakeholders with regards to the Corporate Actions if needed

3. Referential updates
Updates instruments characteristics on the referential (MATRIX) and trading platforms (UTP)

Across all these assignments, there is a global need to be as efficient as possible and offer the highest level of quality in terms of service to clients (“operational excellence”). The idea is to ensure that client’s experience is agreeable relying on a smooth and flawless execution. In that purpose, there are a number of activities which need to be undertaken on a permanent basis to help the team delivering this such as :

  • improving the various existing operational processes related to the different CA streams Equities, ETP / ETFs, , as part of the continuous improvement principle, by implementing

o advanced macros based spreadsheet,
o advanced macros based reporting,
o advanced data-mining tool enabling to capture / screening information from Data vendors and providers
o streamlined / optimized workflows

  • Process reengineering where necessary especially in areas where time to market and simplification matters

Each Officer Corporate Actions:

  • Has good knowledge of Cash/Listing, Derivatives and Index CA operations
  • Is aware of main developments /issues/events in the market and how these (can) result in a Corporate Action
  • Assist in adapting CA operational procedures in light of additional CA types, new products and new tools
  • Convenes and participates in consultative meetings on corporate actions
  • Ensures that the adjustment for a Corporate Actions is performed in accordance with the Rules and CA Policy
  • In projects takes part in business acceptance tests of new/updated functionality
  • Is part of a virtual CA team and reports to the Manager CA for Cash & Derivatives & Index

Background / Education

  • Master degree (ex: Finance, Economics, Management); Business School
  • Experience
  • Advanced database management and tools programming skills : MS office, Macros, VBA Access and SQL
  • Good understanding of Financial markets, markets structures and their evolution from a business, competition, regulatory and technological perspective
  • Fluent in French and English (spoken and written) - a 3rd language (Dutch), while not mandatory, would constitute an important advantage
  • Proven analytic, synthesis and reporting skills
  • Capacity to provide new ideas/analyses and thought leadership
  • Self-motivated and pro-active
  • Strong interpersonal skills
  • Ability to demonstrate a positive attitude at all times in a high pressure international environment
  • Effective communicator, especially in a client facing context
  • Stress resistant