Euronext N.V. is one of the largest exchange groups in continental Europe, operating markets in Amsterdam, Brussels, Lisbon, Dublin, Oslo and Paris. EuroCCP is pleased to offer clearing, settlement and risk management services for cash equity and ETF trades executed on Euronext markets.
EuroCCP acts as the sole CCP for Euronext Dublin, while Oslo is fully interoperable. EuroCCP's access to Euronext’s Amsterdam, Brussels, Lisbon and Paris markets is via Preferred Clearing.
As EuroCCP 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.
EuroCCP maximises the operational and commercial benefits for trading and clearing participants as all trades cleared by EuroCCP are fully netted into one net settlement per ISIN per day. EuroCCP’s features includes:
- Preferred CCP clearing model
- Cross platform netting will deliver substantial settlement savings
- Trades will be incorporated in EuroCCP’s existing reporting
- Existing margin methodology may reduce margin requirements significantly
EuroCCP is now beginning to see a material amount of activity, which has shifted from the incumbent CCP:
- H1 2019 12k vs. H1 2020 222k / Up 1730% YOY
- July 2020 increased 256% vs. June 2020
- Euronext activity of active members being cleared at EuroCCP growing
- Liquidity Providers & institutional flow connected and pipeline growing
To take advantage of the benefits of preferred clearing with Euronext contact the EuroCCP Relationship Management team who can provide an assessment of the savings resulting from the consolidation of Euronext activity with EuroCCP. 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’ = EuroCCP
Once trades executed on Borsa Italiana are cleared by EuroCCP, EuroCCP’s real time, intraday and end of day files will include Euronext activity.
Euronext trades will appear in EuroCCP’s reporting under the relevant Market Identifier Code (TAG 58 in the FIX messages and TAG 8 in the Client Information File (CIF).