Euronext has announced it has signed a definitive agreement to acquire a 20% stake in clearing house, EuroCCP.
Following the announcement in May this year confirming both companies were in ‘exclusive’ talks to carry out the transaction, the agreement means the transaction is now subject to regulatory approval.
Euronext said it bought the 20% stake for €14 million.
The acquisition is set to extend Euronext’s ‘user choice’ in clearing for equity markets in Europe.
EuroCCP will be implemented as a “preferred CCP model followed by a fully interoperable service”, which Euronext said will be open to other CCPs in due course.