The STEP Initiative

15th Anniversary

June 2021 marks the 15th anniversary of the STEP initiative. This is the perfect occasion to (re)discover the main assets of the STEP Label.

You will find them in the brochure edited for this jubilee and in the press statement released as part of a broader media campaign.

STEP aims to foster the integration of the European markets for short-term paper through the convergence of market standards and practices.

Integration will enhance market depth and liquidity and increase the diversification opportunities for issuers (both financial and non-financial institutions) and investors. The Financial Markets Association (ACI) and the European Money Markets Institute are the main promoters of the STEP initiative.

Value for issuers

Visibility & advertisement
Market eligibility
Meet NYSE Euronext listing requirements
ECB weekly statistics
Limited costs for establishing the Info Memo
A "must-have"

Read here in detail the value for Issuers

Value for investors

Transparency & standardisation
Easy and free access to issuers data
Market eligibility
ECB weekly statistics
Promotion of short-term European market

Read here in detail the value for Investors

Information to Market Participants

03.05.2012

The temporary measure regarding the non-publication of Moody’s and Fitch rating letters has been extended to all rating agencies under certain conditions.

Read more ...

STEP contribution structure

€ 2000,- for new STEP programmes
€ 3000,-/year for existing STEP programmes management

Read the STEP contribution structure for more information.

We are pleased to announce that a STEP label has been granted to :

How to apply for or renew your STEP Market Label?

The STEP Label process is explained here:

STEP takes reasonable measures to ensure the quality and accuracy of the information on this Website. However, STEP cannot be held liable in any way for the inaccuracy or incompleteness of any information that is available on or through this Website. In addition, none of the Parties can in any way be held liable or responsible for the content of any Website linked to this Website.