Get 40% Off
⚠ Earnings Alert! Which stocks are poised to surge?
See the stocks on our ProPicks radar. These strategies gained 19.7% year-to-date.
Unlock full list

Cboe Global to buy equities clearing house EuroCCP

Published 12/10/2019, 03:57 AM
Updated 12/10/2019, 04:01 AM
Cboe Global to buy equities clearing house EuroCCP

(Reuters) - Cboe Global Markets (Z:CBOE) has agreed to buy EuroCCP, giving the exchange operator full control over the equity clearing house.

Cboe, one of the world's largest exchange holding companies, plans to fund the deal, which is expected to close in the first half of 2020, with cash on hand, the company said.

The terms of the deal were not disclosed.

The takeover continues a spate of activity among market infrastructure operators in Europe, with Switzerland's stock exchange SIX and Euronext (PA:ENX) vying to buy Spain's BME (MC:BME), while London Stock Exchange Group (L:LSE) has agreed a deal to take on data and analytics company Refinitiv.

EuroCCP is based in Amsterdam, where Cboe's European arm has recently opened a new trading hub so that it can continue to serve European Union clients in the event that its London outpost loses access to the bloc's financial markets after Brexit.

CBOE currently has a 20% stake in EuroCCP, along with Euronext (PA:ENX), Nasdaq (O:NDAQ), ABN Amro (AS:ABNd), and The Depository Trust & Clearing Corporation.

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.