Euronext leads the way for European exchange mergers

Author: | Published: 1 Nov 2000

On September 22 2000, Parisbourse, Amsterdam Exchanges (AEX) and Brussels Exchanges (BXS) completed the first cross-border merger of European exchanges to create Euronext. The three markets, respectively renamed Euronext Paris, Euronext Amsterdam and Euronext Brussels, are continuing their consolidation on a regulatory and technical level in order to achieve a pan-European financial market with a unique combination of global reach and local proximity.

Euronext is working to offer its users, in the short-to-medium term (see figure 1), a global market based on:

a single trading platform for cash products; a single trading platform for derivatives products; a common trading rule book; one central counterparty and clearing house for all trades executed on Euronext markets; a single clearing rule book; and a unified settlement and custody platform. Euronext global market will be accessible through three access points: Euronext Paris, Euronext Amsterdam and Euronext Brussels. Euronext members and listed companies will be entitled to select their preferred access point to Euronext...