Euronext N.V. is one of the largest exchange groups in continental Europe, operating markets in Amsterdam, Brussels, Lisbon, Dublin, Oslo, Milanand 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 acts as the sole CCP for Euronext Dublin, while Oslo is fully interoperable. Cboe Clear Europe's access to Euronext’s Amsterdam, Brussels, Lisbon and Paris markets is via Preferred Clearing.
As Cboe Clear Europe clears Euronext-listed securities traded on MTFs, as well as Euronext Amsterdam, Brussels, Lisbon and Paris 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 will be incorporated in Cboe Clear Europe’s existing reporting
- Existing margin methodology may reduce margin requirements significantly
Cboe Clear Europes volume increased by 83% in 2022 vs 2021 and now have a significant market share.
We have a number of Important liquidity providers and investment banks now live and playing an active 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 liquidity providers and banks in 2023 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]
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 Lisbon
- Euronext Growth Paris
- Euronext Lisbon
- Euronext Paris
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 CCP ID with dedicated values for the CCPs appointed by Euronext to clear cash equity transactions, are
‘1’ = LCH SA
‘6’ = Cboe Clear Europe
Cboe Clear Europe reporting
Once trades executed on Borsa Italiana 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 (TAG 58 in the FIX messages and TAG 8 in the Client Information File (CIF).