European capital market infrastructure Euronext today announced that Euronext Amsterdam, Brussels and Paris will designate Euronext Securities as the CSD for the settlement of equity trades from September 2026. These three markets will join the other Euronext markets in Lisbon, Milan and Oslo, already supported by Euronext Securities.

This initiative marks a significant move as part of Euronext’s Innovate for Growth 2027 strategic plan unveiled in November 2024. It is an important step to improve European capital markets’ competitiveness, to tackle post-trade fragmentation in Europe and open up new trading and investment opportunities, particularly across borders. Currently, the settlement of equity trades in Europe is fragmented across more than 30 different CSDs.

Clients will be able to consolidate settlement of equity trades, and related custody activities, for a number of local markets in one single CSD. The integrated model will provide clients with streamlined post-trade operations, enhanced liquidity and simplified market access across Europe.

They will also benefit from easier adaptation to regulatory changes, in particular during the preparation for the move to T+1 in Europe in October 2027. By unifying settlement, Euronext reaffirms its commitment to driving efficiency, reducing risk, and delivering a stronger, more resilient marketplace for issuers, investors and financial institutions alike.

In parallel, Euronext N.V. today announces the move of its own shares to Euronext Securities on 12 March 2025. The move demonstrates the concrete opportunity available for equity issuers to benefit from the positive impact of consolidation.

Stéphane Boujnah, CEO and Chairman of the Managing Board of Euronext, said:

“Euronext today demonstrates its commitment to improve the competitiveness of European capital markets by proposing a single access point to the settlement activity in Europe through Euronext Securities. Euronext is tackling post-trade fragmentation, one of the key obstacles highlighted by the Draghi report on the future of European competitiveness to the establishment of a large, integrated capital market in Europe. Euronext with its European single trading platform and single liquidity pool gathering 25% of European equity trading activity, is uniquely placed for this strategic move to expand Euronext Securities settlement in Europe, after the successful migration of its clearing activity in Euronext Clearing.

Euronext Securities has €7 trillion in assets under custody and access to over 20 capital markets with an integrated operating model. The move we announce today is a decisive and bold step to integrate European equity markets, and deliver clear benefits to clients, including reduction of costs, streamlined post-trade operations, simplified market access across Europe, and enhanced liquidity. We are looking forward to collaborating with clients across our markets to implement this innovative, integrated model by September 2026, one year ahead of Europe’s migration to a T+1 settlement cycle.”