Euronext Securities European Offering

Euronext Securities is building a harmonised post-trade model that allows clients to consolidate issuance, safekeeping and settlement services from several markets into one central securities depository (CSD). 

Clients will benefit from strengthened cross-border connectivity, a smoother client experience, greater operational efficiency and lower post-trade costs.

This initiative focuses on Euronext Amsterdam, Brussels, Milan and Paris, leveraging Euronext Securities Milan as the CSD of choice for the Euronext markets.

 

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One trusted platform for issuance, settlement and custody

The Euronext Securities European Offering will centralise issuance, settlement and custody services within a single, integrated framework. 

The first phase will see the consolidation of settlement in Euronext Securities Milan for equity and ETP trades on Euronext Amsterdam, Brussels, Milan and Paris, starting 21 September 2026.

Our teams are working closely with clients to support them in preparing for this innovative and future-ready solution in advance of the launch. 

By tackling fragmentation in European post-trade, we aim to cut inefficiencies and build a more harmonised, competitive environment for our clients, creating a truly European CSD solution.

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Key benefits for clients

Seamless cross-border processing

Our strong CSD link network1 supports efficient cross-border activity. Standardised procedures and messaging, including ISO 20022, make interactions across European markets smoother and more reliable. 

Choice of services

Clients can choose where to issue, safeguard and settle their assets, with flexible options designed to fit their needs and reduce costs. 


 

Comprehensive asset servicing 

Our servicing model covers Belgian, Dutch and French markets, supporting local practices such as deferred settlement, registered shares and fiscal services.

Value-added services

We offer support for general meetings, shareholder identification and more, giving issuers and investors access to a range of enhanced services. 

Greater operational efficiency

Onboarding is simple, with structured client testing and dedicated migration support. Harmonised documentation, centralised contacts and reduced market fragmentation make daily operations easier and give clients quick access to key resources. 

1 Bank of Greece, Clearstream Banking AG (Frankfurt)(CBF) , Clearstream Banking S.A (Luxembourg)(CBL) , Depository Trust Company (US) , Euroclear Bank, Euroclear Belgium, Euroclear France, Euroclear Netherlands, Euroclear UKI (UK and Ireland), Iberclear (Spain), National Bank of Belgium, OeKB CSD GmbH (Austria), SIX SIS Ltd (Switzerland).

 

Key milestones

High-level milestones for documentation, testing and go-live (subject to change) 2.

  • By September 2025 
    Publication of first versions of Service Description Documents  

  • By November 2025
    Publication of final versions of Service Description Documents and Technical Documents 

  • 1  December 2025
    Onboarding starts for new Euronext Securities Milan clients 

  • 5 March 2026
    Test environment opens: Place of Settlement change available to test on EUA platform on a subset of instruments

  • March-July 2026
    Client test window 

  • 21 September 2026 
    Effective date for change of designated Place of Settlement to Euronext Securities Milan

2 This timeline is indicative and may evolve with the programme.  

Expanding European Repo with Euronext

Issuers and Issuing agents benefit from

  • Ability to reach a wider pool of investors through a single connection to Euronext Securities’ unified infrastructure
  • One entry point for both exchange and post-trade services, making issuance and lifecycle management simpler. 
  • Reduced total execution costs across the ecosystem, supported by streamlined processes and harmonised standards.
 

Intermediaries and Market Participants benefit from

 
  • Harmonised and efficient post-trade environment that makes cross-border settlement and custody across Belgium, France and the Netherlands straightforward.
  • Standardised procedures and messaging, including ISO 20022, for smoother interactions and lower complexity and costs.
  • Streamlined onboarding, centralised documentation and enhanced connectivity through our growing network of CSD links.
  • Efficient asset servicing and a single corporate events solution, boosting transparency and governance.
  • Easy connections with other markets in T2S and beyond, as Euronext Securities continues to expand its network.

 

 

Documentation

 

Access the full library, including technical specifications and service descriptions , in one click.

Client documentation  

 

News & Announcements

Stay informed about publications and programme updates.

CONTACT

Reach out to Euronext Securities team to know more

We are here to support your onboarding, testing, and operational requirements.

csd-expansion@euronext.com