The leading
European derivatives exchange Euronext announced two significant developments today
(Tuesday): the successful expansion of its clearing operations to all financial
derivatives markets and the acquisition of research benchmarking provider
Substantive Research.
Euronext Expands Clearing
Operations, Integrates Borsa Italiana
The
completion of Euronext Clearing’s expansion to derivatives markets marks the
final phase of migrating clearing activities from LCH SA. This milestone
concludes the integration of the Borsa Italiana Group, which Euronext acquired
three years ago.
“The
successful expansion of Euronext Clearing contributes to the defragmentation
and harmonization of post-trade activities in Europe, increasing the
attractiveness of our markets,” Stéphane Boujnah, CEO of Euronext, stated. “This
ensures that our single European liquidity pool is supported by a simplified,
streamlined and fully integrated post-trade structure.”
With this
expansion, Euronext Clearing has become the third-largest clearing house in
Europe, offering a unified clearing solution across multiple asset classes. The
move is expected to enhance risk management and operational efficiencies for
market participants.
“By
offering a comprehensive clearing solution across multiple asset classes, we
enhance the efficiency and reliability of the markets we serve, delivering
significant value to our clients,” Anthony Attia, Euronext’s Global Head of
Derivatives and Post-Trade, added. “Euronext now offers a streamlined and
efficient market environment and is ready to innovate and develop new
derivatives and clearing solutions for our clients.”
Exchange Acquires Research
Benchmarking Firm
Euronext
also announced the acquisition of Substantive Research, a London-based firm
specializing in research and market data benchmarking. The purchase aims to
bolster Euronext’s investor services segment and strengthen its relationship
with the buy-side community.
Substantive
Research, founded in 2015, provides insights into research pricing and spending
to over 100 global clients, including asset managers, hedge funds, and wealth
managers.
“The
acquisition of Substantive Research will accelerate the growth of our Investor
Services business with leading research and market data benchmarking
capabilities,” Camille Beudin, Head of Diversified Services at Euronext, said. “We
are looking forward to work with the teams of Substantive Research to further
scale the business to the benefit of our clients worldwide.”
The
integration of Substantive Research with Euronext’s subsidiary Commcise is
expected to offer enhanced compliance solutions for asset managers and expand
benchmarking products for both buy-side and sell-side clients.
“With the
research market poised for yet more regulatory-driven changes, plus market data
consumers grappling with increasing costs and pricing opacity, we are so
excited to be able to accelerate our coverage and data depth with Commcise and
Euronext’s insight and resources,” Mike Carrodus, Founder and CEO of
Substantive Research, concluded.
In August, investor activity in Euronext’s currency market amounted to $638 billion compared to $583 billion in July. ADV jumped to $29 billion, up from $28 billion.
This article was written by Damian Chmiel at www.financemagnates.com.
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