About us
Association française des marchés financiers (AMAFI) is the professional organisation that represents those working in the securities industry and financial markets in France.
Reflecting the diversity of firms and activities involved in the sector, AMAFI promotes the development of robust, efficient and competitive capital markets that play a vital role in financing economic activity, allocating savings and supporting growth.
Generating ideas and analyses for a vital industry, AMAFI works in all areas of activity on regulated, unregulated, primary and secondary financial markets for both cash and derivative products.
A brief history
AMAFI’s story began with the reform introduced by the Securities Exchanges Act of 22 January 1988, which replaced the officially appointed brokers, known as agents de change, with commercial enterprises called sociétés de bourse, or exchange member firms. At that time, the main powers of the CSAC, the committee representing agents de change, were divided among three bodies: Conseil des Bourses de Valeurs (CBV), for the regulation and oversight of the market and its participants; Société des Bourses Françaises (SBF), responsible for organising the markets; and Association Française des Sociétés de Bourse (AFSB), which represented the industry.
In 1996, this legal framework was overhauled by the Financial Activity Modernisation Act, which introduced the new legal category of entreprise d’investissement, or investment firm. AFSB accordingly changed its name to Association Française des Entreprises d’Investissement (French Association of Investment Firms – AFEI)
On 19 June 2008, AFEI became Association Française des Marchés Financiers (AMAFI) to show that the Association acts on behalf of all market participants, whatever their operational status.
What we do
Represent and advocate for the interests of market participants in France
- Work towards and promote a regulatory framework tailored to members’ needs and built to support the economy, by conveying the industry’s views and opinions to the relevant domestic, European and international institutions and authorities.
- Provide members with analytical tools so they can position themselves strategically with respect to changes in the operating environment.
- Support members in adapting to new regulations.
Inform members
Operating as a forum for discussion and analysis, AMAFI keeps members abreast of everything that affects their professional environment and the day-to-day running of their business.
AMAFI organises conferences on issues likely to be of interest to members and publishes a broad range of documents on topical issues.
Taking part in the public debate
In France, the usefulness of financial markets is frequently called into question, even as their key role in financing economic activity is set to grow as part of the effort to fund the transition to a more sustainable and prosperous economy.
AMAFI’s communication efforts therefore hinge on helping the public at large to understand the role that financial markets play and the ways in which they are useful both to society and to the economy.
These efforts are pursued through a variety of channels, including:
- Ongoing ties to the mainstream and specialised press.
- A partnership with Revue Banque magazine, which has led to the co-publication of 25 special issues since 2011. The release of each issue is followed by a public debate.
- Educational initiatives aimed at explaining how markets work and showcasing the careers on offer in the industry.
Educational activities targeting wider audiences
AMAFI is rolling out tools to help people understand the markets, tailored to audiences broader than its traditional professional audience. The first of these is a collection of Professor Spot videos aimed at a young audience, designed with the joint body OPCO Atlas.
AMAFI also works to promote careers in financial markets. In addition to regularly attending trade shows and events, the Association created a series of Success Story videos, and teamed up with labour representatives to publish 28 individual fact sheets describing different jobs in the industry.
What we do
AMAFI works under the authority of its Board, through 2 commissions, 9 standing committees and dedicated working groups, in close cooperation with its members, other associations and market participants, and its international counterparts.
At the domestic level, our primary talking partners include the Treasury, the securities regulator (AMF), and the prudential oversight and resolution authority (ACPR). AMAFI is also active at European and international levels, dealing with the European Commission, the European Securities and Markets Authority (ESMA), the International Organization of Securities Commissions (IOSCO) and the European Banking Authority (EBA).
AMAFI is a member of the French Business Confederation (MEDEF), the Market Financing Observatory (OFEM) and the French Association of Credit Institutions and Investment Firms (AFECEI).
The Association is also the representative employers’ organisation for the financial market activities sector (Convention Collective Nationale des Activités de Marchés Financiers – CCNM).
European initiatives
Through its European and International Affairs Division, AMAFI is active at European level, where the operating framework for its members is mainly shaped. AMAFI opened an office in Brussels in 2023 to stay in touch with European initiatives that have a major bearing on the industry. It also set up a European Action Committee, which steers AMAFI’s initiatives to lobby for business interests with the European institutions.
To boost its effectiveness, AMAFI coordinates its work with sister associations abroad. AMAFI is a founding member of the European Forum of Securities Associations (EFSA), and of the International Council of Securities Associations (ICSA).