Building the CSD of Choice in Europe

17/04/2025 - 12:00PM CEST

The rapidly evolving geopolitical landscape presents unprecedented challenges for Europe.
In this context, all stakeholders, including policymakers, have a role to play.
However, it is also incumbent upon us, as an industry, to take action.

Euronext Securities is taking action

At Euronext, we hold two strong beliefs:

first, this period offers a significant opportunity to simplify, expand, and make our markets more cost-effective, thereby creating growth opportunities for all.
Second, success stems from successful partnerships with you, our clients.

Therefore, we aim to regularly share our insights on market trends and hot topics, featuring our experts to provide you with the latest updates on our strategic projects and explain the innovative solutions we are developing to meet your strategic needs.

To contribute to our collective objectives, let us highlight three significant initiatives with tangible value for you that we are delivering together.

Our initiatives

Firstly, together, we are implementing a common platform to support Central Securities Depositories (CSD) activity in Europe, beginning with the four CSDs we operate in Copenhagen, Milan, Oslo, and Porto. The objective is straightforward: to provide you with the best service in the long term by transitioning from fragmented, ageing systems to a future-proof European platform that benefits both our global and local clients.

Second, we propose to manage more European markets through our European CSD model. We recently announced that the settlement of equity and exchange-traded fund (ETF) transactions on Euronext Amsterdam, Brussels, and Paris, will be centralised in Euronext Securities Milan by September 2026. This strategic move will offer increased cross-border trading opportunities, allowing you to navigate multiple markets with ease and enhancing liquidity. Operations will become more efficient, post-trade costs will be reduced, and adapting to regulatory changes will become more straightforward, such as the adoption of the T+1 settlement cycle by October 2027. In doing so, we are offering a valid and innovative alternative for issuers and intermediaries through a truly European CSD model.

Third, we are continuing to develop added-value services to help you focus on what is strategic for you - whether it is growing market share, entering new markets, or transforming your operations. This includes expanding our data services catalogue and leveraging our recent acquisition of Acupay to boost our tax services offering.

People often think of post-trade as the plumbing of financial markets. Some forget that the collective intelligence, hard work, and commitment of the “plumbers” who design and improve this infrastructure daily are essential to making these markets work.

That is why I want to warmly thank you for the strong engagement you have shown so far in embarking with us on this ambitious journey. We look forward to shaping European markets for future generations together!

Author: Pierre Davoust, Head of Euronext Securities