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Submitted by master_of_puppets1 on

Join us as a Senior C++ Developer

Shape the future of real-time trading experiences

We are looking for a Senior C++ Developer to contribute to the design, development, and maintenance of our high-performance trading software solutions in Porto. You will build reliable, low-latency, and scalable systems that power mission-critical trading operations for banks, brokers, and funds.

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Pages: 30
Publication date:  2 April 2025
Authors: Paul Besson, Head of Quantitative Research & Ludovic Quily, Data Science & Quant Analyst

This new research investigates the types of limit orders that are most frequently used by participants at closing auctions, and also highlights the benefits for investors from leveraging Euronext Auction Volume Discovery (AVD) orders to interact against the residual imbalances remaining at the Close.

While closing auctions represent more than 25% of the multilateral addressable volume in Europe early 2026, the market impact at the Close is still rarely studied by academics.

In 2020, we published our first research paper on the Close “Better trading at the Close thanks to market impact models”, focusing on market orders and an analysis of the call phase.

In this new research paper "Better market impact at the close with residual imbalance", we further investigate the types of limit orders most frequently used by market participants. We then introduce a market impact model showing the impact of trading at the Close for both market orders and marketable orders. The study also highlights the size of residual imbalances remaining at the Close. These imbalances are now actionable following the launch of Euronext’s Auction Volume Discovery (AVD), a market feature that enables participants to interact with and manage residual imbalances more effectively.


Making the most of Euronext Closing Auctions

Replay the webinars and download the slides:
Webinar for Buy-Side     Webinar for Sell-Side
The sessions reviewed who trades at the close and which order types are used, examined the market impact of both market and quasi-market orders, and demonstrated how large trade sizes can be executed with minimal market impact.

The webinars also covered the residual imbalance at the close price and how to leverage the Auction Volume Discovery (AVD) feature, which enables market participants to benefit opportunistically from this untapped liquidity.

For more insights and to receive a copy of the research paper, contact
 QuantReports@euronext.com

For more information about Euronext Auction Volume Discovery, contact  
Equities@euronext.com

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Submitted by master_of_puppets1 on

Join us as a Product Owner

Drive the convergence of post-trade services across Europe.

We are looking for a Product Owner to join Euronext Securities in Porto and play a key role in the convergence programme, which consists of rolling out a common service supported by a unified IT system across our Central Securities Depositories (CSDs).

The objective of this programme is to provide financial institutions with a single client experience, reducing the cost, risk, and complexity of post-trade fragmentation in Europe.

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Submitted by master_of_puppets1 on

We are looking for an AI Security Engineer to join our Security Ai Operations team in Porto office where you will have the opportunity to lead the design, implementation, and governance of secure AI systems built on Microsoft Azure AI Foundry and Copilot agent frameworks.

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Submitted by master_of_puppets1 on

Location

Portugal (Porto) or Italy (Milan)

Travels in Italy (Porto, Milan and Isernia close to Naples)

Reporting To

CEO

Context

Euronext Technology Solutions is a fintech trading software company (60+ employees) undergoing a transformation from a project-driven model to a scalable, product-led organisation. We are building a cross-functional squad model, strengthening DevOps, and modernising our product portfolio. We are seeking a CTO to lead this Engineer Teams.

Mission

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Submitted by master_of_puppets1 on

This position is for a Software Developer in the Governance product line, responsible for software development activities of IBabs.

 

The key accountabilities for this role are

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Submitted by master_of_puppets1 on

Join our Business Operations team as a Fiscal Services operations intern in Milan. This is a unique opportunity to gain hands-on experience in fiscal and tax-related activities within a leading European post-trade services provider. You will be part of a dynamic, multicultural environment, supporting international operations and learning from experienced professionals.

You will be primarily responsible for:

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Submitted by master_of_puppets1 on

Join us as a Java Software Developer

Build reliable backend solutions for real-time trading systems.

We are looking for a Java Software Developer to join our trading technology team in Porto and contribute to the development and maintenance of high-performance trading software. Working under the guidance of senior engineers, you will support the design, development, testing, and maintenance of Java-based trading systems that power mission-critical solutions for banks, brokers, and funds.