Core Insights - The liquidity contract between IPSOS and BNP Paribas shows a decrease in trading volume in the second half of 2025 compared to the first half of 2025, indicating a potential shift in market activity or investor interest [1]. Trading Activity Summary - In the second half of 2025, IPSOS traded a total of 47,480 shares for €1,812,695 across 651 transactions, with 44,433 shares sold for €1,684,398 in 494 transactions [1]. - In the first half of 2025, IPSOS traded a total of 61,133 shares for €2,677,607 across 780 transactions, with 61,211 shares sold for €2,709,695 in 792 transactions [1]. Historical Context - The liquidity account has been in operation since July 1, 2021, following AMF decision no. 2021-01, and prior to that, it was established under AMF decision no. 2018-1 on December 31, 2018 [1].

Core Points - The liquidity contract between Elis and Oddo BHF (Group Natixis) has been active since January 2, 2024, and the half-yearly report as of June 30, 2025, provides insights into the trading activities under this contract [2][4]. Group 1: Trading Activities - In the first half of 2025, a total of 48,767 shares were reported with a value of €4,740,871 [4]. - On the buy side, 1,508,913 shares were traded for €32,258,758 across 6,124 executions, while on the sell side, 1,644,536 shares were traded for €35,467,806 across 5,913 executions [4]. - In the second half of 2024, trading activities included 1,635,873 shares on the buy side for €33,206,130 (6,722 executions) and 1,619,744 shares on the sell side for €33,168,052 (3,765 executions) [4].