Since the double migration in Lisbon, all Euronext cash products listed in Amsterdam, Brussels, Paris and Lisbon are traded through NSC1 and cleared by Clearnet2, Euronext's clearing house and central counterparty, via the CLEARING 21® system.
As a result, all Euronext Portuguese customers have a direct and cheaper access, through the same technology they use for domestic securities, to all the Dutch, French and Belgian cash products. In addition, Portuguese securities benefit from a wider exposure and visibility to European and international investors.
In addition, since 7Th November Euronext Lisbon members benefit from a clearing service provided by Clearnet which stands between the two sides of a trade and becomes counterpart to both original parties to eliminate counterparty risk. All trades are cleared through the real time clearing and netting system CLEARING 21®, allowing multilateral cross margining and netting across Euronext locations which cuts settlement costs.
Jean-François Théodore, Chairman of the Managing Board and CEO of Euronext said: "We are very pleased and satisfied to have our Euronext Lisbon customers connected to all the Euronext cash markets, and benefitting of a clearing guarantee. From now on, all our cash products are traded and cleared through a unified technology, thus marking the completion of the technical integration of the Euronext cash markets."
João Freixa, Euronext Lisbon CEO said: "The double migration of Lisbon onto Euronext cash trading and clearing systems, is a major milestone for the development of the Portuguese market. On one hand it brings Lisbon to the trading, clearing and regulatory standards of Euronext, the biggest cash market in Europe by the number and value of trades. On the other hand, this migration will attract new investors and allow Portuguese trading firms to enlarge the range of products, that they trade and propose to their customers."
