Euronext Clearing joins Baton Systems’ Core-Collateral Network
With the addition of Euronext Clearing, Baton’s CCP coverage now includes 96% of initial margin worldwide (as per Public Quantitative Disclosures).
With the addition of Euronext Clearing, Baton’s CCP coverage now includes 96% of initial margin worldwide (as per Public Quantitative Disclosures).
The move is scheduled to be implemented in Q2 2026, subject to regulatory review and approval of any necessary rule changes.
The move, coordinated by Iberclear, aims to harmonise the Spanish market with European standards.
New additions have collectively held positions at BlackRock, ESMA, Credit Suisse, BNP Paribas, Credit Agricole and Exane.
New technology platform will utilise MIAX’s proprietary trading, middle- and back-office technology; clearing, settlement and depository technology will be built in conjunction with Vermiculus.
Expanded service aims to deliver “much needed” automation to the large and fragmented segment of futures and options trading.
Set to launch in April 2025, the offering – in partnership with Crypto Finance – will offer institutional investors settlement and custody services in crypto assets.
“Do you want to evolve or do you want to go extinct,” asked one expert panellist addressing the UK and EU shift to T+1 at the FIX EMEA Trading conference.
Effective from 3 March 2025, Euronext’s expansion of clearing services will play a key role in integrating cryptocurrency ETPs into the regulated financial system.
From March 2025, SIX x-clear’s preferred clearing services will be available for Euronext trades, with Euronext Italy joining by Q2 2025.