Amsterdam, Brussels, Lisbon, London and Paris – 14 August 2017 – Euronext today announces it has completed the acquisition of c.90% of FastMatch, the fastest growing Electronic Communication Network (“ECN”) in the spot foreign exchange market, after having received regulatory and anti-trust approvals. This follows the announcement of 23 May 2017 on the signing of the agreement with the existing shareholders of FastMatch.

Consistent with Euronext’s “Agility for Growth” strategy, this transaction diversifies Euronext’s top line, accelerates its growth profile and allows the group to extend its “best execution” value proposition to an additional asset class.

• Euronext and LCH SA sign binding terms for the continued provision of derivatives and commodities clearing services
• 10-year agreement delivering long term and sustainable clearing income for Euronext, with a revenue sharing mechanism
• Improved value proposition for customers, including reduced clearing fees and providing continuity of service
• Euronext to swap its current 2.3% stake in LCH Group for an 11.1% stake in LCH SA, a direct investment in a leading multi-asset Eurozone based CCP
• Pre-emption rights for Euronext, in the case of a sale of LCH SA
• Clearing services agreement expected to be signed in Q4 2017
• Euronext terminates derivatives clearing agreement with Intercontinental Exchange

Amsterdam, Brussels, Lisbon, London and Paris – 8 August 2017– Euronext, the leading pan-European exchange in the Eurozone, announces it has signed binding terms with LCH SA, LCH Group and London Stock Exchange Group for the continued provision of clearing services for its derivatives products.

The agreement covers the clearing of financial derivatives and commodity derivatives for a period of 10 years offering comparable financial conditions. Euronext and LCH SA will work together to develop new products for the benefit of clearing members and market participants.

Euronext will swap its current 2.3% stake in LCH Group for an 11.1% stake in LCH SA, subject to regulatory approvals and other customary conditions. LCH SA is a leading multi-asset CCP, based in the Eurozone, with substantial growth opportunities in the fixed income and CDS businesses. This transaction will strengthen the long-standing relationship between Euronext and LCH SA, and cement the strategic future of LCH SA.

Euronext will remain on the Board of LCH SA following completion of the share swap. Euronext will also nominate one representative to LCH SA Audit Committee and will continue to be represented at LCH SA Risk Committee. A new Consultative Committee dedicated to Euronext derivatives business will be created.

The new long-term agreement covers the clearing of financial derivatives and commodity derivatives for a period of 10 years, providing continuity of clearing services for members, and saving the cost and disruption associated with a migration at a time where client bandwidth is stretched due to MiFID2 implementation and Brexit planning. Euronext and LCH SA will work together to develop new products for the benefit of clearing members and market participants, and to focus on providing a lower cost service for members.

Euronext and LCH SA will work together to achieve a targeted range of reduction in clearing fees of 5% to 15% with effect from January 2019, depending on each specific product and service. The precise quantum of

the reduction for allocation to each derivative product line will be refined in consultation with market users. The targeted reduction in frictional costs will further improve the competitive landscape and encourage increased trading volumes.

The parties have agreed that Euronext will have certain minority protection rights connected with its new shareholding in LCH SA. Euronext will have a pre-emption right in circumstances where LCH Group decides to sell more than 50% of the shares of LCH SA. The pre-emption right involves a right of first offer and subject to certain conditions, a matching right. In addition, LCH Group has a pre-emption right over a transfer of shares by Euronext and the ability to buy back Euronext's shares in certain circumstances where the derivatives agreement is terminated.

In addition the agreement provides a comparable revenue sharing mechanism delivering a continued clearing income stream for Euronext. Euronext will also recognise at closing a net capital gain following the share swap of around €24m.

Overall this represents a long term, sustainable continuity of clearing services for Euronext and its clients. The formal clearing services agreement is expected to be completed during Q4 2017.

Stéphane Boujnah, CEO and Chairman of the Managing Board, Euronext N.V said: “This agreement is a long-term and sustainable solution for the clearing of our derivative markets. It also provides Euronext with a sizeable ownership position in a leading multi-asset CCP based in the Eurozone with strong positions in the fast growing fixed income and CDS businesses. Our clients will benefit from a reduction in clearing fees and the continuity of service avoids the cost and disruption associated with a migration.” 

Amsterdam, Brussels, Lisbon, London and Paris – 4 August 2017 – Euronext, the leading pan-European exchange in the Eurozone, today announced trading volumes for July 2017.

• The July 2017 average daily transaction value on the Euronext cash order book stood at €7,454 million, up +20.4% compared to July 2016 and down -9.6% from the previous month. The average daily transaction value on ETFs was €466 million, down -2.5% compared to July 2016 and up +12.6% from the previous month. Our ETF offering increased  this month to 824 listings at the end of July compared to 790 end of 2016.
• The average daily volume on equity index derivatives reached 223,492 contracts in July 2017, up +24.9% compared to July 2016 and down -9.7% from the previous month. The average daily volume on individual equity derivatives reached 203,766 contracts in July 2017, up +1.7% compared to July 2016 and down -56.1% from the previous month. The June 2017 figures include a total of 5.6 million equity and index option contracts‎, resulting from the planned non-recurring migration of open interest from TOM to Euronext .
• In July 2017, the average daily volume on commodities derivatives reached 70,321 contracts, up +5.7% compared to July 2016 and up +23.2% from the previous month, as a result of normalised harvest conditions in the new French crop year.
• On a year-to-date basis, the overall average daily volume on Euronext derivatives stands at 562,090 contracts (+8.8% compared to end of July 2016) and the open interest was up at 16,145,211 contracts (+3.6% compared to end of July 2016).
• In July 2017, Euronext had two new listings with Nepi Rockcastle PLC in Amsterdam and UV Germi in Paris that altogether raised €6 million. In addition, €1.7 billion were raised on Euronext in corporate bonds  and €3.4 billion of follow-on equity of which Tikehau Capital for €702 million and Carmila for €629 million.

Euronext monthly activity July 2017

Amsterdam, Brussels, Lisbon, London and Paris – 28 July 2017 – Today Euronext announced its results for the second quarter of 2017.

• Strong quarter, with improved cash and derivatives volumes:
  
  • Revenues up +3.8% compared to Q2 2016, to €137.3 million (Q2 2016: €132.3 million)
  • Cash average daily volume up +18.5% compared Q2 2016 and equity derivatives average daily volume up +27.3%
  • Strengthened cash equity market share for the quarter at 64.2%
  • Changes in competitive landscape for derivatives
  • Strong listing activity supported by large secondary market operations
• Continued cost discipline, while progressing the delivery of Optiq® and MiFID II projects, and Agility for Growth initiatives
• EBITDA of €79.2 million (Q2 2016: €77.7 million) and EBITDA margin of 57.7% (Q2 2016: 58.7%)
• Record quarterly performance since IPO translating into a reported EPS of €0.78, up +9.9% compared to Q2 2016
• New milestones in the deployment of Agility for Growth initiatives:
  
  • Delivery of Optiq® Market Data Gateway in July providing clients with a 10x reduction in latency
  • Further enrichment of the Corporate Service offering to issuers with the acquisition of iBabs, the innovative digital board portal solution
  • Launch of the Euronext Block MTF
  • €1.6 million of revenues and €1.9 million of costs generated by Agility for Growth initiatives in the quarter
• Acquisition of FastMatch, with closing expected within Q3 ‘17

“I am proud to report today the strongest quarter since our IPO. The second quarter of 2017 saw volumes return to 2015 levels, driven by increased investor appetite and an improved financial and political outlook for the European Union. Euronext capitalised on this favourable environment and continued to deploy strong cost discipline. We strengthened our core business and delivered significant milestones in our Agility for Growth strategy, shaping the Euronext of tomorrow. Our new Optiq® platform was launched for market data and our diversification of activities continued with the reinforcement of our corporate services offering and the entry into the spot FX market", said Stéphane Boujnah, Chairman and CEO of the Managing Board of Euronext NV.

Read full press release.

Amsterdam, Brussels, Lisbon, London and Paris – 27 July 2017 – Euronext today announced the launch of the Morningstar® Eurozone 50 Index^SM and Morningstar® Developed Markets Europe 100 Index^SM on Euronext. The launch of the new European indices for blue chips follows the signing of a strategic agreement with Morningstar announced in March 2017 to develop a series of derivative products based on Morningstar indices.

The indices developed by Euronext and Morningstar aim to provide different investor profiles (asset managers, brokers, ETF issuers, banks and trading desks) with equity beta indices that can be used as benchmarks and for investable product creation. The new indices are positioned as a competitive alternative to Europe’s existing offerings and are part of Morningstar’s Open Indexes Project, which delivers a portion of Morningstar’s global equity indices for no cost to the investment community for benchmarking purposes. The indices come with an innovative business model offering:

• Free daily index performance data and constituent holdings on a monthly basis
• A competitive licensing fee for investment product creation
• Limited fixed fee levels to license the indices for bank structured product creation

The agreement with Morningstar to deliver new European indices is part of Euronext’s “Agility for Growth” strategy aimed at diversifying and strengthening its index offering in Europe. 

The indices launch will be followed by Euronext’s launch of Futures contracts on the two new European indices in Q4 2017.

Appendix –

The indices components can be found online at http://corporate1.morningstar.com/Morningstar-Global-Indexes/# 

For more information, visit Euronext’s website: www.euronext.com/morningstar-european-indices

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