The Regulation section gathers the rules issued by Euronext as market operator to frame the organisation of the European markets of NYSE Euronext. There are two types of regulated markets organised by Euronext:

• The Securities Markets (markets of stocks, bonds, warrants, trackers, structured funds, certificates), also known as the Cash markets, organised in Amsterdam, Brussels, Lisbon and Paris
• The Derivatives Markets (markets of options, futures, swaps,…) also known as the Liffe Markets, organised in Amsterdam, Brussels, Lisbon, London and Paris.

While the majority of the rules are harmonized and therefore applicable in all the locations (Amsterdam, Brussels, Lisbon, London and Paris), some are still non harmonized and therefore different from one location to another.

The Euronext rules provided in this section are without prejudice to the provisions of the EU regulations and the relevant National regulations (Belgian, French, Dutch, Portuguese and UK) applicable to the Euronext Market Undertaking organising such markets and to the companies listed on these markets and the members active on those ones.

Notices/Instructions implement the provisions of the Rule Books.

Euronext Cash regulation
This subsection gathers the Euronext rules applicable to the Euronext Cash/Securities Markets. While some rules are harmonized and applicable in all the locations, others are only applicable in the location concerned. The rules contained in the Rule Book I are harmonized and thus applicable in all the cash market places (Amsterdam, Brussels, Lisbon and Paris). The Rule Book II contains rules that have not been harmonized in all the locations and therefore are different in each market place.

The Rule Books (I and II) and the Notices/Instructions are applicable to the Regulated Markets.

The Trading Manual gathers the rules applicable to the trading in the Euronext Cash/Securities Markets.

The rules applicable to Multilateral Trading Facilities (MTF) in the meaning of the MiFID (Market in Financial Instruments Directive) are presented under the form of Organisational notas for each MTF. The rules of the MTF may refer to rules applicable to the Regulated markets.

Euronext Derivatives regulation
This subsection gathers the Euronext rules applicable to the Derivatives markets. These markets are Regulated Markets in the meaning of the MiFID (Market in Financial Instruments Directive).

While some rules applicable to those markets are harmonized, others are applicable only in the location concerned. The rules contained in the Rule Book I are harmonized and thus applicable in all the derivatives market places (Amsterdam, Brussels, Lisbon, London and Paris). The Rule Book II contains rules that have not been harmonized in all the locations and therefore exist in Amsterdam, Brussels, Lisbon, London and Paris.

The Trading Procedures gathers the rules applicable to the trading in the Derivatives markets for both all the locations and for each location.