Buying and selling shares

Who should you contact?

As an individual, you are not authorised to trade in the market. You must place your orders through an authorised financial intermediary who will handle their execution.
For direct registered shares
You must be the holder of a direct registered share account and have signed a “securities account and order-taking agreement” with SGSS. Your orders are submitted to SGSS: by telephone: Nomilia: 02 51 85 67 89; by fax: 02 51 85 53 42; par Internet:; by post: Société Générale Securities Services 32, rue du Champ-de-Tir CS 30812 44308 Nantes Cedex 3.
For administered registered and bearer shares
Consult with your authorised intermediary: it is responsible for executing the order, managing your account, receiving dividends and sending a transaction notice that stipulates the execution of a stock exchange order.
How do you formulate your order?
The order must include: your identity; the transaction direction (buy or sell); the name of the security and/or the ISIN code, the quantity of shares to be bought or sold; the applicable account number; the validity period; the type of order.
Validity period
A “day” order is effective for the entire trading session. If it is not executed during this session, it is no longer valid and will no longer appear in the order book. A “Good-Till-Date” order remains active on the market until the specified date, unless executed or cancelled by the order originator. A “Good-Till-Cancelled” order is valid until the maximum period established by the financial intermediary, unless executed or cancelled.

Type of order

There are different types of orders.
Limit order (1)
A limit order enables the buyer to set a maximum price, and the seller a minimum price, at which the order will be executed. The order can be executed multiple times or may be partially filled.
Best limit order (1)
A best limit order is executed at the best price offered when the share is placed on the market. It will not be executed where there is a lack of liquidity. In the case of partial execution, the unexecuted portion of the order becomes a limit order at the price of the first execution.
Market order
It takes priority over best limit orders and limit orders. The order originator has assurance that it will be fully executed so long as the security is listed, but does not control the price. At the opening, the order is executed at the opening price. During the session, the order rises and falls to any necessary price until the desired quantity is fulfilled.
Stop order

The order is executed once the price reaches a pre-determined threshold.
Stop limit order

The order is only executed within a specific range.
(1) Type of order accepted for direct registered shareholders.

Deadline for execution and payment of orders

For direct registered shareholders

SGSS records the date and time of orders received, and immediately sends them to selected traders for execution in accordance with the holder’s instructions. Orders received on days when the markets are closed are sent on the following trading day, depending on the necessary processing and delivery times.

For purchases: except for the purchase of rights representing fractional shares during securities transactions, acceptance of a buy order is subject to SGSS receiving a cheque that covers 50% of the expected amount of the trade (purchase price multiplied by volume purchased plus related fees and commissions). Once payment for the transaction is received, your shares will be recorded as direct registered and you will receive a statement for the stock exchange transaction. For sales: SGSS will settle with you directly by cheque or by bank transfer (please provide bank details for the account where the funds should be paid). However, the proceeds of the share transfer will be withheld by SGSS until it receives confirmation of your order (for orders placed over the telephone). For dividend payments, payments are made by cheque or by bank transfer to your account (provide your bank details in advance).

Note: when an order is placed by telephone, you must confirm it in writing.

For administered registered and bearer shareholders
Speak with your financial intermediary.   

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