Euronext
About
Euronext N.V. is one of the largest exchange groups in continental Europe, operating markets in Amsterdam, Brussels, Dublin, Lisbon, Milan, Oslo and Paris.
Cboe Clear Europe is pleased to offer clearing, settlement and risk management services for cash equity and ETF trades executed on Euronext markets.
Cboe Clear Europe's access to Euronext’s Amsterdam, Brussels, Dublin, Lisbon, Milan and Paris markets is via Preferred Clearing. Cboe Clear Europe also clears trades on Euronext Oslo via the interoperable model.
In 2023 we cleared record volumes on Euronext markets via preferred clearing, with a total of 75.5m trades versus 53m in 2022.
Given Cboe Clear Europe also clears Euronext-listed securities traded on MTFs, as well as primary Euronext markets, trades can be netted with existing positions and not incur any additional settlement fees.
Cboe Clear Europe maximises the operational and commercial benefits for trading and clearing participants as all trades cleared by Cboe Clear Europe are fully netted into one net settlement per ISIN per day. Cboe Clear Europe’s features includes:
- Preferred CCP clearing model
- Cross platform netting will deliver substantial settlement savings
- Trades incorporated in Cboe Clear Europe’s existing reporting
- Existing margin methodology may reduce margin requirements significantly
We have a number of important liquidity providers (LP) and investment banks now live who play an active and significant role in ensuring high matching rates and trades sent to Cboe Clear Europe for clearing. Clients are benefitting from cross netting with high volume MTF flow, reducing their post trade costs and lowering the cost of execution. We have a strong pipeline of new mandates from both the LP and bank community in 2024 to grow our market share and volume further.
To take advantage of the benefits of preferred clearing with Euronext contact the Cboe Clear Europe Relationship Management team who can provide an assessment of the savings resulting from the consolidation of Euronext activity with Cboe Clear Europe. Contact us at [email protected]
Euronext Reporting
The Preferred CCP model within Euronext is activated with the following exchanges / platforms:
- Euronext Access Brussels
- Euronext Access Lisbon
- Euronext Access Paris
- Euronext Amsterdam
- Euronext Brussels
- Euronext Growth Brussels
- Euronext Growth Dublin
- Euronext Growth Lisbon
- Euronext Growth Paris
- Euronext Lisbon
- Euronext Paris
- Euronext Dublin
- Euronext Dublin Enterprise Securities Market
The following fields / Tags are being used to identify the CCP ID in the real-time messages from Euronext:
«Counterpart Firm ID» in SBE message FILL (04)
«Contra Broker» in FIX message EXECUTION REPORT (8)
The dedicated CCP ID value as denoted by Euronext’s Optiq OEG specification is:
‘6’ = Cboe Clear Europe
Cboe Clear Europe reporting
Once trades executed on Euronext are cleared by Cboe Clear Europe, Cboe Clear Europe’s real time, intraday and end of day files will include Euronext activity.
Euronext trades will appear in Cboe Clear Europe’s reporting under the relevant Market Identifier Code (Tag58 in the FIX messages and Tag8 in the CIF - Client Information File).
