Euronext maps out derivatives systems migration

Derivatives traded on Euronext Brussels will trade via Liffe Connect from March 24 next year, with derivatives traded via Euronext Paris shifting to Liffe Connect on April 14. Derivatives traded via Euronext Amsterdam and Euronext Lisbon will also migrate to Liffe’s system, although Euronext declined to specify a date.

Euronext said the move is aimed at providing customers with a greater pool of liquidity as well are reducing connection and capacity costs. Euronext plans to create a pan-European equities and derivatives exchange based on a common technology platform.

But clearing will remain somewhat fragmented. Euronext said derivatives clearing for trades entered into in Brussels would shift to Clearing 21 – Euronext’s continental derivatives clearing system – on March 24 next year. But all derivatives transactions initiated in London will continue to be cleared via the London Clearing House.