Euronext expands derivatives service


New service positions Euronext to capture migration of OTC derivatives to regulated markets and central clearing, delivered in partnership with Cinnober and LCH.Clearnet SA

Amsterdam, Brussels, Lisbon, London and Paris –11 December 2014– Euronext today announced a new service which will significantly expand and enhance its derivatives offering for clients.  The service, to be launched with equity derivatives in the spring of 2015, will enable bilaterally agreed trades in derivative products with certain flexible parameters to be reported to Euronext and cleared by LCH.Clearnet SA , Euronext’s Central Counter party.  The service will run on the TRADExpress platform, delivered by Cinnober, a leading independent provider of solutions and services to major trading and clearing venues. 

The new service will provide flexibility for investors by allowing them to tailor derivative instruments and to report through a web interface, or a dedicated electronic connection, with expiration dates, strike prices, option types and settlement styles which are not available on the central order book. Furthermore, clients can benefit from capital and operational efficiencies of clearing flexible trades in the same clearing pool as their existing Euronext positions. 

Lee Hodgkinson, Head of Markets and Global Sales, said, “We are very excited to be providing this solution in partnership with Cinnober and LCH.Clearnet SA, which responds directly to institutional client demand for us to broaden our derivatives franchise. Against the backdrop of the G20 post-crisis reform programme of increased transparency and reduced systemic risk in derivative markets, we will be positioning our service to deliver clients with the capital efficiency and risk management benefits of central clearing.  This initiative will allow us to boost the competitiveness of our existing and recently launched products, and will be the springboard for expansion into new derivative products and asset classes, as it directly provides us with opportunities to develop closer links to a broader section of the trading community.”

Veronica Augustsson, CEO of Cinnober Financial Technology AB, said,“We are very pleased to provide an exciting and innovative solution for a major player like Euronext. There are many changes taking place within trade management and post-trade, where regulations and competition in particular are driving innovation. Together with our track record, independence and flexible technology this puts us at the forefront. We are confidently looking forward to providing a top-notch solution together with our partners, which will also benefit the European derivative and equity markets in general.”

Christophe Hemon, CEO of LCH.Clearnet SA, said,“We are pleased to be working with Euronext to widen market access to clearing. Our members recognize the benefits of centrally clearing a greater proportion of their derivative trading activity through regulated platforms. The addition of this service to our clearing pool further strengthens potential for portfolio margining for both our members and clients.  We look forward to continuing our work with Euronext to grow the service in line with customer demand.”

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About Euronext 
Euronext is the leading pan-European market infrastructure, connecting European economies to global capital markets, to accelerate innovation and sustainable growth. It operates regulated exchanges in Belgium, France, Ireland, Italy, the Netherlands, Norway and Portugal. With more than 1,900 listed issuers and around €6.5 trillion in market capitalisation as of end June 2023, it has an unmatched blue-chip franchise and a strong diverse domestic and international client base. Euronext operates regulated and transparent equity and derivatives markets, one of Europe’s leading electronic fixed income trading markets and is the largest centre for debt and funds listings in the world. Its total product offering includes Equities, FX, Exchange Traded Funds, Warrants & Certificates, Bonds, Derivatives, Commodities and Indices. The Group provides a multi-asset clearing house through Euronext Clearing, and custody and settlement services through Euronext Securities central securities depositories in Denmark, Italy, Norway and Portugal. Euronext also leverages its expertise in running markets by providing technology and managed services to third parties. In addition to its main regulated market, it also operates a number of junior markets, simplifying access to listing for SMEs.  
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