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).
The exchange said the development comes as part of its goal to tackle post-trade fragmentation in Europe and open up new trading and investment opportunities.
From March 2025, SIX x-clear’s preferred clearing services will be available for Euronext trades, with Euronext Italy joining by Q2 2025.
Specifically, the offering introduces the first mini futures cash-settled on European government bonds.
Overall trading revenues grew 14% year-on-year to €559 million, driven by strong results within its fixed income, FX and cash trading segments.
New development aligns with Euronext’s plan to expand its Italian repo clearing franchise to a wider range of European government bonds.