Saxo Bank supports Euronext to distribute Portuguese Single Stock Options

Euronext is taking a significant step forward in expanding the accessibility of its Portuguese Single Stock Options by collaborating with Saxo Bank, which is now distributing these products in Portugal. Both retail and institutional investors can now trade options on four major Portuguese stocks: Jerónimo Martins, Galp, EDP, and EDP Renováveis.

By tapping into Saxo Bank's established distribution network, this collaboration broadens the reach of these products in Portugal, offering more investors the opportunity to engage with these options.

Samuel Klein, Product Owner Futures and Options of Saxo, said: “Saxo is thrilled to announce our support for newly launched Portuguese stock options on Euronext Lisbon. This new offering provides traders with possibilities to diversify, hedge market risk and grasp more market opportunities. The options are now included in the existing suite of products available on Saxo’s award-winning platform.”

A landmark moment for the Portuguese derivatives market

These options allow investors to trade on some of Portugal's most prominent companies, providing them with greater flexibility and enhanced risk management solutions. Their availability strengthens the array of financial instruments that help investors better manage their portfolios in an evolving market environment.

These "vanilla" options, which are standardised and straightforward, grant the right (but not the obligation) to buy or sell the underlying stocks at a predetermined price within a set timeframe, typically no longer than six months.

Ensuring liquidity and confidence

To maintain liquidity and stability in the market, Susquehanna, a leading market maker, ensures that options are actively traded and readily available to investors, creating a smoother and more efficient trading experience.

This launch marks an important milestone in our ongoing commitment to deepening the Portuguese market and providing investors with a broader range of financial instruments.

Looking ahead, Euronext continues to drive innovation and growth in the European financial markets, with further product expansions, including additional Single Stock Options across Europe.

Euronext Clearing services have been extended to cover equity instruments traded on the Luxembourg Stock Exchange.

The Luxembourg Stock Exchange has decided to move the clearing of trades on equities admitted to trading on the markets of the Luxembourg Stock Exchange to Euronext Clearing, the Euronext Group’s CCP. Euronext Clearing expects to start clearing equities traded on the Luxembourg Stock Exchange in Q4 2024.

This expansion reflects the ongoing commitment to providing innovative clearing solutions and strengthens Euronext Clearing's position as a trusted partner in clearing and risk management.

A new margin model for Euronext Single Stock Dividend Futures

Following the migration of Euronext’s financial derivatives markets to Euronext Clearing in September 2024, a new margin model has been implemented and applied to Euronext’s Single Stock Dividend Futures offering. This has significantly lowered the levels of immobilised capital, and complements strong clearing efficiencies at the portfolio level, powered by Euronext Clearing.

The benefits of the migration and competitive trading fees make Euronext’s financial derivatives offering highly attractive to investors.        

Trade Euronext’s large range of Single Stock Dividend Futures (SSDF), available for trading across 16 countries.

What are the key advantages of trading Euronext's Single Stock Dividend Futures?

• Lower prime brokerage costs  thanks to a 10,000 multiplier

• Take advantage of the lowest fee among the pan-European markets for both on and off-screen trading

• Reduce capital costs thanks to an efficient portfolio approach

The importance of European Corporate Actions Committee 

Euronext, as the other exchange players in Europe, have committed to a harmonised treatment of corporate actions. The European Corporate Actions Committee ensures a safe trading environment which benefits market participants investing in dividend derivatives.

To find out more about Euronext Single Stock Dividend Futures, download the presentation.

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January2025

2025 European Dividend Outlook

S&P Global Market Intelligence has provided a comprehensive analysis of 2025 European Dividend trends, predicting a 2.5% decrease year-over-year (YoY) to €489 billion in 2025 due to a reduction in one-off variable dividends. Excluding one-off dividends, the underlying growth in dividends is projected to be 3.2%. This indicates that regular, recurring dividends are expected to grow. The report anticipates a return to growth in 2026, with a projected increase of 5.2% in total dividends.

To find out more about S&P Global’s analysis, download the S&P Global’s 2025 European Dividend Report.

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