Pan-European market infrastructure firm Euronext has successfully completed the migration of its clearing business from LCH SA to Euronext Clearing, the company said on Tuesday.
The milestone marks the end of the migration from LCH SA, as well as the contractual relationship with the firm. It also completes the integration of the Borsa Italiana Group.
The successful migration of Euronext’s clearing business to Euronext Clearing is said to be a major step forward in Euronext’s European expansion.
London Stock Exchange owned LCH SA is a financial market infrastructure firm that provides clearing services to major international exchanges and a range of OTC markets.
“The completion of the clearing migration solidifies Euronext’s role as a central player in the European financial landscape, positioning Euronext Clearing as the third-largest clearing house in Europe, underscoring its rapid growth and influence in the post-trade space,” said Euronext.
By expanding Euronext Clearing to all Euronext financial derivatives markets, Euronext offers clients a comprehensive clearing solution across a wide range of asset classes.
This integration provides clients with enhanced risk management, improved efficiency, and streamlined collateral management.
Euronext’s successful completion of the clearing migration project aligns with its ‘Growth for Impact 2024’ strategic plan. The company said it is on track to reach its target of €115 million in run-rate annual EBITDA synergies by the end of 2024.
Elsewhere today, Euronext announced the acquisition of Substantive Research, a leading research and market data benchmarking provider.