Savers’ renewed appetite for the stock market has boosted the stock brokerage industry. Younger and more active than their elders, these new scholarship holders are a prime target. The growth potential of the French market is attracting new foreign players.
Forgotten the gloomy years marked by the decline of individual shareholders. With the return of stock market savers, the stock brokerage market has entered a new phase of development. 411,000 individuals took their first steps on the market last year, according to the Financial Markets Authority (AMF). At the end of 2019 already, more than 300,000 savers had been tempted by the IPO of la Française des Jeux.
For the two historical leaders of the French market, registrations have exploded. Recruitment of new clients has tripled at Boursorama, with 120,000 securities accounts opened over the first nine months of the year. Bourse Direct had 207,000 customers at the end of 2020, a 28% jump in one year. This improvement surprised them. “During the previous crises, in 2008 or 2011, activity quickly fell back after the initial shock”, recalls Benoît Grisoni, CEO of Boursorama, a subsidiary of Société Générale. “This time around, account openings jumped as the markets fell and have been very dynamic ever since. This is a strong change in trend and it concerns all players. “