Euronext and Morningstar have teamed up to launch risk management tools and to provide investors with access to indices and market data at lower costs.
The two firms will launch a range of European indices and instruments traded on Euronext, which will form part of the Morningstar Global index Family.
Euronext added it will offer options and futures contracts on the new European indices later this year.
The products aim to provide asset managers, brokers and banks with equity beta indices that can be used as benchmarks and for investable product creation, the exchange operator said.
Stéphane Boujnah, CEO at Euronext, explained the agreement id part of the ‘Agility for Growth’ strategy aimed at strengthening the Group’s index offering.
“The Euronext Group is well positioned to meet rising demand for these products from clients at a time when the European market is actively seeking new business models,” he said.
Sanjay Arya, global head of Morningstar indexes, added the partnership with Euronext will allow investors to gain “accessible, consistent exposure to European markets with tools to manage risk in their portfolios.”
Earlier this month, Euronext made a $10 million strategic investment in bond technology provider, Algomi, also as part of its growth strategy.
The investment will see Algomi’s bond network made available to traders globally and allow them to exchange risk more efficiently by identifying appropriate counterparties.