Euronext maps out derivatives systems migration
Derivatives traded on Euronext Brussels and Euronext Paris will migrate within nine months to Liffe Connect, the electronic trading system developed by the London International Financial Futures and Options Exchange (Liffe) before its takeover of £555 million pan-European exchange Euronext in October last year.
Euronext said the move is aimed at providing customers with a greater pool of liquidity as well are reducing connection and capacity costs. Euronext plans to create a pan-European equities and derivatives exchange based on a common technology platform.
But clearing will remain somewhat fragmented. Euronext said derivatives clearing for trades entered into in Brussels would shift to Clearing 21 – Euronext’s continental derivatives clearing system – on March 24 next year. But all derivatives transactions initiated in London will continue to be cleared via the London Clearing House.
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