In this new episode of La Bourse selon Euronext, on the occasion of the AI Action Summit, Laurent Daudet, co-founder and co-CEO of LightOn, a leading European player in generative artificial intelligence, discusses the company's journey, the role of AI in businesses and financial markets, and its listing on Euronext Growth Paris.

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Celebrating excellence in the Portuguese capital markets

On 20 February, Euronext proudly announced the winners of the 14^th edition of the Euronext Lisbon Awards, an annual celebration recognising those who have made significant contributions to the growth and development of the Portuguese capital markets. The awards highlight the exceptional work of issuers, financial intermediaries, institutions, and individuals who have shaped and enhanced the financial landscape in Portugal over the past year.

The awards ceremony took place during Euronext's flagship event in Portugal, bringing together key players from the financial markets and industry leaders. The evening commenced with opening remarks from Joaquim Miranda Sarmento, Minister of State and Finance, who set the tone for the event, underscoring the importance of the awards in recognising excellence and innovation within the Portuguese economy. This was followed by a thought-provoking keynote address by Professor João César das Neves, who delivered a speech on the theme, “The world went to elections in 2024: what economy can we expect in 2025?”

The 2024 edition of the awards is particularly significant as it coincides with Euronext's 25^th anniversary. Over the past quarter-century, Euronext has been at the forefront of connecting economies and fostering the growth of capital markets across Europe. The 2024 awards reaffirm the dynamism and resilience of the Portuguese capital market and underscore the country’s continued role in driving economic progress on the European stage.

The Euronext Lisbon Awards not only celebrate individual and organisational achievements but also serve as a reflection of the continuous innovation and transformation within the market. This year’s winners represent the diverse sectors that contribute to the vibrancy of Portugal’s financial ecosystem, from corporate governance to sustainable finance and technological advancements.

Looking ahead, Euronext remains committed to advancing its European vision, with a strong focus on driving growth, innovation, and sustainability within the Portuguese market and beyond. Through the Lisbon Awards, we continue to celebrate the achievements of those who are shaping the future of finance and capital markets.

Saxo Bank supports Euronext to distribute Portuguese Single Stock Options

Euronext is taking a significant step forward in expanding the accessibility of its Portuguese Single Stock Options by collaborating with Saxo Bank, which is now distributing these products in Portugal. Both retail and institutional investors can now trade options on four major Portuguese stocks: Jerónimo Martins, Galp, EDP, and EDP Renováveis.

By tapping into Saxo Bank's established distribution network, this collaboration broadens the reach of these products in Portugal, offering more investors the opportunity to engage with these options.

Samuel Klein, Product Owner Futures and Options of Saxo, said: “Saxo is thrilled to announce our support for newly launched Portuguese stock options on Euronext Lisbon. This new offering provides traders with possibilities to diversify, hedge market risk and grasp more market opportunities. The options are now included in the existing suite of products available on Saxo’s award-winning platform.”

A landmark moment for the Portuguese derivatives market

These options allow investors to trade on some of Portugal's most prominent companies, providing them with greater flexibility and enhanced risk management solutions. Their availability strengthens the array of financial instruments that help investors better manage their portfolios in an evolving market environment.

These "vanilla" options, which are standardised and straightforward, grant the right (but not the obligation) to buy or sell the underlying stocks at a predetermined price within a set timeframe, typically no longer than six months.

Ensuring liquidity and confidence

To maintain liquidity and stability in the market, Susquehanna, a leading market maker, ensures that options are actively traded and readily available to investors, creating a smoother and more efficient trading experience.

This launch marks an important milestone in our ongoing commitment to deepening the Portuguese market and providing investors with a broader range of financial instruments.

Looking ahead, Euronext continues to drive innovation and growth in the European financial markets, with further product expansions, including additional Single Stock Options across Europe.

Euronext Clearing services have been extended to cover equity instruments traded on the Luxembourg Stock Exchange.

The Luxembourg Stock Exchange has decided to move the clearing of trades on equities admitted to trading on the markets of the Luxembourg Stock Exchange to Euronext Clearing, the Euronext Group’s CCP. Euronext Clearing expects to start clearing equities traded on the Luxembourg Stock Exchange in Q4 2024.

This expansion reflects the ongoing commitment to providing innovative clearing solutions and strengthens Euronext Clearing's position as a trusted partner in clearing and risk management.

A new margin model for Euronext Single Stock Dividend Futures

Following the migration of Euronext’s financial derivatives markets to Euronext Clearing in September 2024, a new margin model has been implemented and applied to Euronext’s Single Stock Dividend Futures offering. This has significantly lowered the levels of immobilised capital, and complements strong clearing efficiencies at the portfolio level, powered by Euronext Clearing.

The benefits of the migration and competitive trading fees make Euronext’s financial derivatives offering highly attractive to investors.        

Trade Euronext’s large range of Single Stock Dividend Futures (SSDF), available for trading across 16 countries.

What are the key advantages of trading Euronext's Single Stock Dividend Futures?

• Lower prime brokerage costs  thanks to a 10,000 multiplier

• Take advantage of the lowest fee among the pan-European markets for both on and off-screen trading

• Reduce capital costs thanks to an efficient portfolio approach

The importance of European Corporate Actions Committee 

Euronext, as the other exchange players in Europe, have committed to a harmonised treatment of corporate actions. The European Corporate Actions Committee ensures a safe trading environment which benefits market participants investing in dividend derivatives.

To find out more about Euronext Single Stock Dividend Futures, download the presentation.

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January2025

2025 European Dividend Outlook

S&P Global Market Intelligence has provided a comprehensive analysis of 2025 European Dividend trends, predicting a 2.5% decrease year-over-year (YoY) to €489 billion in 2025 due to a reduction in one-off variable dividends. Excluding one-off dividends, the underlying growth in dividends is projected to be 3.2%. This indicates that regular, recurring dividends are expected to grow. The report anticipates a return to growth in 2026, with a projected increase of 5.2% in total dividends.

To find out more about S&P Global’s analysis, download the S&P Global’s 2025 European Dividend Report.

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Euronext will launch mini futures cash-settled on European government bonds, marking a major innovation in the financial derivatives market. Set to debut in September 2025, these contracts will provide additional trading opportunities, tailored for retail and institutional investors. This initiative aligns with Euronext’s strategic vision, leveraging its robust trading ecosystem to strengthen its leadership in European markets.

A major innovation in the financial derivatives market

Euronext is set to launch fixed income derivatives with the introduction of mini futures cash-settled on European government bonds. This marks the most significant innovation in the financial derivatives in recent years.

This offering will enhance accessibility and flexibility to investors, providing them with the necessary granularity for hedging and taking exposure to government bonds.

Leveraging Euronext’s fixed income trading ecosystem

Euronext is leveraging its leading position in the fixed income trading ecosystem to introduce fixed income derivatives. By building on MTS, its institutional bond trading platform, and the retail-focused MOT bond market, Euronext ensures broad appeal and high utility for retail and algorithmic trading communities. 

The first-ever mini futures cash-settled on European government bonds

The first phase of this strategic expansion, planned for September 2025, will see the launch of the first-ever mini futures contracts on the Euronext Derivatives Milan market, with a focus on key European government bonds:

• Italy: 10-year and 30-year BTPs
• France: 10-year OAT
• Germany: 10-year Bund
• Spain: 10-year Bono

An offering tailored for retail and institutional investors

The Euronext mini-bonds futures offer key advantages:

• Mini-sized contracts provide accessibility and flexibility to a broader range of market participants
• Euronext’s Optiq^® state-of-the art trading platform offers high performance and low latency
• Liquidity is guaranteed by dedicated market makers committed to provide liquidity on a continuous basis
• Euronext Clearing provides robust risk management capabilities with an efficient risk model
• Trading execution is enhanced thanks to advanced colocation services and Euronext’s fully integrated market infrastructure

Aligned with Euronext’s strategic vision

This initiative aligns with Euronext’s ‘Innovate for Growth 2027’ strategic plan, which focuses on leveraging the group's comprehensive trading value chain to develop innovative products that meet evolving market demands. By introducing this suite of derivatives, Euronext further cements its leading position in the European financial markets, delivering unparalleled value to its clients.

 download the Brochure