We had previously discussed the reduction of the delivery settlement cycle applicable to securities admitted on Euronext Paris and Alternext Paris with effect from October 6, 2014. Such change required advancing the record date, so that both the settlement date and the record date occur on T+2 (as opposed to T+3 under previous rules). Decree no. 2014-1466 issued on December 8, 2014 was issued to this effect.

The decree is due to take effect on January 1, 2015.