Cboe Global Markets has entered into a definitive agreement to acquire pan-European equities clearing house EuroCCP.
EuroCCP currently clears trades for 39 trading venues, which represent close to 95% of Europe’s equity landscape.
Ownership of EuroCCP is expected to enhance Cboe’s current European equities business and create a pathway for equity derivatives trading and clearing in the region.
The transaction, which Cboe plans to fund with cash on hand, is expected to close in the first half of 2020, pending regulatory clearances and the arrangement of a supporting liquidity facility for EuroCCP.
Pan-European exchange Euronext says it received net proceeds of EUR9 million for its 20% stake in EuroCCP, valuing the total transaction at EUR45 million.