Euronext announced its completed the migration of Euronext clearing business from LCH SA to Euronext Clearing as well as the integration of the Borsa Italiana Group. The completion of the clearing migration positions Euronext Clearing as the third-largest clearing house1 in Europe.
This was the final phase in the European expansion of Euronext Clearing, to create Euronext’s multi-asset class clearing house. This achievement, realized on schedule in September 2024, marks the last critical achievement in completing Euronext’s ‘Growth for Impact 2024’ strategic plan and the integration of the Borsa Italiana Group, three years after it was acquired by Euronext.
Over the last three years, Euronext has successfully and seamlessly migrated its core data center from the UK to Italy, migrated Borsa Italiana cash and derivatives markets to its proprietary trading platform Optiq, and expanded the clearing activities of Euronext Clearing to all Euronext cash and derivatives markets across Europe.
The expansion of Euronext Clearing to all Euronext derivatives markets brings significant benefits such as enhanced risk management through a VaR-based margin methodology, improved efficiency and reliability in risk capture and allocation, and the introduction of a unified equity and derivatives default fund to facilitate cross-margining. Clients can now streamline their collateral management and access consolidated information on collateral, risk and clearing activities through a single platform.
Stéphane Boujnah, CEO and chair of the Managing Board of Euronext, said in a statement: “Euronext continues to strengthen the backbone of the Capital Markets Union in Europe by expanding Euronext Clearing services to financial derivatives activities. The successful expansion of Euronext Clearing contributes to the defragmentation and the harmonization of post-trade activities in Europe, to increase the attractiveness of our markets. This ensures that our single European liquidity pool is supported by a simplified, streamlined and fully integrated post-trade structure. I want to thank the LCH SA teams for the constructive cooperation that made this smooth migration possible.”
Anthony Attia, Euronext global head of Derivatives and Post-Trade, said in a statement: “By offering a comprehensive clearing solution across multiple asset classes, we enhance the efficiency and reliability of the markets we serve, delivering significant value to our clients. Thanks to this achievement, Euronext now offers a streamlined and efficient market environment and is ready to innovate and develop new derivatives and clearing solutions for our clients.”