Euronext moves forward with plans to acquire Athens Stock Exchange
The exchange is set to launch a voluntary exchange offer, running until 17 November, with the proposal already receiving unanimous support from ATHEX’s board of directors.
The exchange is set to launch a voluntary exchange offer, running until 17 November, with the proposal already receiving unanimous support from ATHEX’s board of directors.
The offering will unify listing, trading, clearing and settlement and is set to address fragmentation and distribution issues across European ETF markets.
The contracts are listed on the Euronext Derivatives Milan market, and are powered by the exchange’s clearing platform.
Individual brings more than two decades of industry experience to his new position, and has also previously worked at Goldman Sachs, JP Morgan, Nomura and Lehman Brothers.
The pan-European exchange saw a 12.8% increase in overall revenue and income in the second quarter of this year, driven by strong results in its fixed income, clearing, FX and equity divisions.
If the acquisition comes to fruition, the combined group would run on a unified trading and post-trade technology, with a cross-border clearing framework.
The offering is set to provide access to addressable liquidity which is currently untapped; launch set for later this year.
Latest report individually addresses every complaint by exchanges surrounding the original research and reaffirms original stance that the cost of data is too high.
Protocol applies to rates, credit and repo and is aimed at reducing manual entry to enhance straight through processing (STP).
With the addition of Euronext Clearing, Baton’s CCP coverage now includes 96% of initial margin worldwide (as per Public Quantitative Disclosures).