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| Submission declined on 7 June 2023 by RPSkokie (talk). This draft's references do not show that the subject qualifies for a Wikipedia article. In summary, the draft needs multiple published sources that are:
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| Formerly | Cassa di Compensazione e Garanzia S.p.A. (CC&G) |
|---|---|
| Company type | Private |
| Industry | Financial |
| Founded | March 31, 1992 |
| Headquarters | , Italy |
Area served | Euronext trading venues |
Key people | Roberto Pecora (CEO)[1] |
| Products | Central counterparty clearing |
| Parent | Euronext |
| Website | www |
Euronext Clearing is the multi-asset clearing house (or central clearing counterparty, CCP) of Euronext, forming part of the pan-European bourse's post-trade services. Euronext Clearing aims to serve all Euronext trading venues in the course of 2024.[2][3][4][5] Founded as Borsa Italiana's clearing house Cassa di Compensazione e Garanzia S.p.A. (CC&G) in 1992, CC&G was acquithe company was the Euronext clearing is the successor of Borsa Italiana's clearing house Cassa di Compensazione e Garanzia S.p.A. (CC&G), which was founded in 1992.
Services edit
Euronext Clearing provides clearing services for several types of financial instruments, including equities, fixed income, derivatives, and commodities.[6][7]
History edit
Background: Previous clearing activities edit
edit
2000-2003: Clearnet expansion following Euronext's founding edit
- 2000 - Euronext is established through the merger of Bourse de Paris, the Amsterdam Exchanges and the Brussels Exchanges.
- 2001 - Paris-based Clearnet, established in 1969, merges with Euronext Amsterdam's and Euronext Brussels' Clearing Houses.
- 2003 - Euronext Lisbon contributes its derivative and OTC equity clearing businesses to Clearnet which thus acquires a branch in Portugal to establish a local presence with Portuguese clearing members.
2003-2013: Merger of LCH and Clearnet edit
- 2003 - LCH.Clearnet Group is formed following the merger of the London Clearing House, founded in 1888, and Clearnet SA. New ownership comprises: Clearing Members 45.1%, Exchanges 45.1%, Euroclear 9.8%.
- 2007 - LCH.Clearnet and Euronext announce repurchase by LCH.Clearnet of shares held by Euronext to more closely align customer and shareholder interests. Revised ownership comprises: Clearing Members 73.3%, Exchanges 10.9%, Euroclear 15.8%.
- 2008 - LCH.Clearnet successfully resolves $9 trillion of Lehman Brothers OTC interest rate swap defaults.
- 2009 - US office opened.
- 2009 - Dormant shareholders are retired and shareholders are given the option to reduce or exit their holdings. Revised ownership comprises: Clearing members 82.85%, Exchanges 17.15%.
- 2012 - The London Stock Exchange gets enough support to acquiring a 60% stake in LCH.Clearnet with an offer of €19 per share, giving LCH.Clearnet a valuation of €813 million (£677 million/ $1.1 billion).[8]
- 2012 - LCH.Clearnet acquired sole ownership of International Derivatives Clearing Group, LLC from the NASDAQ OMX Group, Inc. and certain other investors. IDCG became a U.S. subsidiary of LCH.Clearnet, reinforcing LCH.Clearnet's presence in the U.S. marketplace, where it already operated IRS clearing through its SwapClear service.
2013-present: London Stock Exchange Group majority stake, renaming as LCH edit
- 2013 - London Stock Exchange Group acquired a majority stake in the business.
- 2016 - LCH.Clearnet drops "Clearnet" from its name. It will be called LCH henceforth.[9]
As of December 2019, Euronext retained an 11.1% share in LCH's Paris-based branch, LCH SA.
edit
Between 2016 and 2019 Euronext owned a 20% share in European Central Counterparty N.V. (EuroCCP).[10][11]
2021-present: Transformation of CC&G into Euronext Clearing edit
In 2021, Euronext CEO Stéphane Boujnah stated the company's interest in acquiring Euroclear.[12]
As part of its acquisition of the Italian Bourse in 2021, Euronext once again obtained a multi-asset clearing house, Cassa di Compensazione e Garanzia S.p.A. (CC&G), founded in 1992.
In 2022, CC&G was renamed Euronext Clearing. Euronext aims to grow this into a pan-European business serving all its trading venues in the course of 2024.[3][5]
See also edit
- Central counterparty clearing
- Euroclear
- London Clearing House, a subsidiary of the London Stock Exchange Group
- Clearstream, a subsidiary of Deutsche Börse
References edit
- ^ Nikolova, Maria (May 25, 2023). "Roberto Pecora to become CEO of Euronext Clearing". FX News Group.
- ^ "SGSS' Roberto Pecora to Run Euronext Clearing as CEO". 25 May 2023.
- ^ a b "Euronext continues investment in clearing business with 50 new hires - The TRADE". www.thetradenews.com.
- ^ "Euronext to pay LCH €36 million early termination fee to kick-start derivatives clearing migration plans - The TRADE". www.thetradenews.com.
- ^ a b Asgari, Nikou (January 16, 2023). "Euronext to switch derivatives clearing to Italy in 2024".
- ^ >https://www.financemagnates.com/executives/sgss-roberto-pecora-to-run-euronext-clearing-as-ceo/
- ^ "Euronext ready to match US move to T+1".
- ^ "LSE wins control of LCH.Clearnet". The Telegraph. April 2, 2012.
- ^ Watkins, Jonathan. "LCH drops Clearnet from branding". The Trade news. Retrieved 2020-08-12.
- ^ "Euronext closes acquisition of a 20% stake in EuroCCP | euronext.com". www.euronext.com. Archived from the original on 26 May 2021. Retrieved 26 May 2021.
- ^ "Euronext announces binding agreement to sell its 20% minority stake in EuroCCP | euronext.com". www.euronext.com. Archived from the original on 28 June 2021. Retrieved 28 June 2021.
- ^ "Euronext CEO eyes Euroclear as next phase of acquisition spree". ETF Stream. December 6, 2021.
External links edit
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