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.