Euronext to buy 20% stake in EuroCCP

Euronext to buy 20% stake in EuroCCP

European exchange group Euronext has agreed to pay around EUR14 million for a 20% stake in central counterparty EuroCCP.

Slated to close later this year, the deal will enable Euronext to offer user choice in clearing for the equity markets within the Eurozone through the implementation of a preferred CCP model.

This will be followed by a fully interoperable service, open to other central counterparties "in due course".

The agreement comes shortly after Euronext revealed that it has set aside EUR150 million to fund its growth over the next three years through internal development and via a series of bolt-on acquisitions.

The war chest is part of a strategic plan developed by the exchange operator as it looks to compete in a new landscape, dominated by the $30 billion merger between Deutsche Bourse and the London Stock Exchange.

Comments: (0)

Trending Stories

Featured Job
All Jobs »