Euronext

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Euronext - Home > Home
Integration platform of the exchanges of Bruxelles, Paris, and Amsterdam. ... NYSE Euronext introduces real-time market data free for the public for...
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Euronext - Wikipedia, the free encyclopedia
Euronext N.V. ... Euronext was formed on 22nd September 2000 in a merger of the ... In December 2001 Euronext acquired the shares of the London International ...
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Euronext N.V. is a pan-European stock exchange based in Paris{{cite web], France, Netherlands, Portugal and the United Kingdom. In addition to equities and derivative (finance)s markets, the Euronext group provides clearing and information services. As of January 31, 2006 markets run by Euronext had a market capitalization of USD$2.9 trillion, making it the 5th largest exchange on the planet.NYSE Group 2006 Euronext merged with NYSE Group to form NYSE Group, the first global stock exchange.

Background Euronext was formed on September 22 2000 in a merger of the Amsterdam Stock Exchange, Brussels Stock Exchange, and Paris Bourse, in order to take advantage of the harmonization of the European Union financial markets. In December 2001 Euronext acquired the shares of the London International Financial Futures and Options Exchange (LIFFE), which continues to operate under its own governance. Beginning in early 2003, all derivatives products traded on its affiliated exchanges trade on LIFFECONNECT, LIFFE's electronic trading platform. In 2002 the group merged with the Portuguese stock exchange Bolsa de Valores de Lisboa e Porto (BVLP), renamed Euronext Lisbon.

Structure and Indices Euronext has cross-membership and cross-access agreements with the Warsaw Stock Exchange for their cash and derivatives products, and with the Helsinki Exchanges on cash trading; ownership agreements are currently excluded. The Euronext List encompasses all quoted companies. It has two segments; NextEconomy, consisting of companies whose equities are traded continuously and are active in sectors such as information technology and biotechnology, and NextPrime, consisting of companies in more traditional sectors that are traded continuously. Inclusion in the segments is voluntary.

Euronext manages two broad-based indices. The Euronext 100 Index is the blue chip Index (economics). The Next 150 Index is a market capitalization index of the 150 next largest stocks, representing the large to mid capitalization segment of listed stocks at Euronext. The NextEconomy and NextPrime segments each have a price index and a total return index, weighted by market capitalization and excluding the shares listed in the Euronext 100 Index. The indices have a base date of December 31, 2001, with a starting level of 1000 points. Six NextWeather weather indices for France, launched in January 2002, are among the sector indices planned by Euronext. Exchange traded funds, called trackers, comprise Euronext's NextTrack product segment, and have been introduced on the AEX index, CAC 40 Index, DJ Euro Stoxx 50 Index, and various pan-European regional and sector indices. Euronext has introduced several commodity futures contracts, available to all constituents. Winefex Bordeaux futures are traded on Euronext Paris. Euronext.liffe is the subsidiary of Euronext responsible for all option (finance)s and futures contracts trading, formed by the merger of the derivatives activities of the various constituents of Euronext with LIFFE.

Euronext.liffe Euronext.liffe was formed in January 2002 from the takeover of the London International Financial Futures and Options Exchange by Euronext. The derivatives activities of the other constituent exchanges of Euronext (Amsterdam, Brussels, Lisbon and Paris), were merged into Euronext.liffe. Trading is done electronically through the LIFFE CONNECT platform. Euronext.liffe offers a wide range of futures and option products on short-term interest rates, bonds, swaps, equities and commodities.

Volumes in 2004 were split as follows:
Interest Rate: 313.3 million contracts
Equities: 468.8 million contracts
Commodities: 8.0 million contracts

In addition to this, it sells its technology to third parties. Since April 2003, the Tokyo International Financial Futures Exchange (TIFFE) has run on LIFFE CONNECT. Furthermore, in January 2004, the Chicago Board of Trade started electronic trading using e-cbot, which is powered by LIFFE CONNECT. As a result, the Kansas City Board of Trade (KCBT), the Minneapolis Grain Exchange (MGEX) and the Winnipeg Commodity Exchange (WCE) use LIFFE CONNECT for their overnight trading.

Controversy Euronext.Liffe intends to markedly change the exchanges for two of its most popular contracts, the Euroswiss and Short Sterling STIRs by halving the tick sizes (as with Euribor currently). This change is controversial.

Alternext Alternext was formed in 2005 by Euronext to create a market for small and mid-class companies in the Eurozone to address the need of finding financement in a wider area. Since the merger of Euronext and NYSE since 2006, now completed in 2007, this market is now a division of NYSE Euronext, named NYSE Alternext.

Merger with NYSE Due to apparent moves by NASDAQ to acquire the London Stock Exchange, NYSE Group (owner of the New York Stock Exchange) offered 8 billion euros ($10.2b) in cash and shares for Euronext on May 22, 2006, outbidding a rival offer for the European Stock exchange operator from Deutsche Börse, the German stock market.{{cite web], 2006, Deutsche Börse unveiled a merger bid for Euronext, valuing the pan-European exchange at United States Dollar11 billion (€8.6bn), €600 million over NYSE Group's initial bid. {{cite web], 2006--> Despite this, NYSE Group and Euronext penned a merger agreement, subject to shareholder vote and regulatory approval. The initial regulatory response by Securities and Exchange Commission chief Christopher Cox (who was coordinating heavily with European counterparts) was positive, with an expected approval by the end of 2007.{{cite web]|accessdate=2006-06-02|date=June 2, 2006--> The new firm, tentatively dubbed NYSE Group, would be headquartered in New York City, with European operations and its trading platform run out of Paris, France. NYSE Chief Executive Officer John Thain, who would head NYSE Euronext, intends to use the combination to form the world's first global stock market, with continuous trading of stocks and derivatives over a 21-hour time span. In addition, the two exchanges hope to add Borsa Italiana (the Milan stock exchange) into the grouping.

Deutsche Börse dropped out of the bidding for Euronext on November 15, 2006, removing the last major hurdle for the NYSE Euronext transaction. A run-up of NYSE Group's stock price in late 2006 made the offering far more attractive to Euronext's shareholders.{{cite web], 2006, Euronext shareholders approved the transaction with 98.2% of the vote. Only 1.8% voted in favor of the Deutsche Börse offer. Jean-François Théodore, the Chief Executive Officer of Euronext, stated that they expected the transaction to close within three or four months.{{cite web], 2006.{{cite web|url=http://www.nytimes.com/2006/12/21/business/worldbusiness/21nyse.html?ref=worldbusiness|title=Big Board Holders Back Euronext Deal|publisher=The New York Times|accessdate=2006-12-21|date=2006-12-21--> The merger was completed on April 4, 2007, forming the NYSE Euronext.

References See also

Euronext Amsterdam
Euronext Brussels
Euronext Lisbon
Euronext Paris
List of stock exchanges
List of European stock exchanges

External links

Official Euronext website
Yahoo! - Euronext NV Company Profile
FT.com - "Euronext in talks to buy MTS trading platform"

Euronext - Home > Home
NYSE Euronext is the global leader..... in IPO proceeds raised by operating companies listing on its markets, with capital raised totaling $26.4 billion/€16.7 billion in the ...

Euronext - Home > Home
Integration platform of the exchanges of Bruxelles, Paris, and Amsterdam.

Euronext - Wikipedia, the free encyclopedia
Euronext N.V. is a pan-European stock exchange based in Paris [1] and with subsidiaries in Belgium, France, Netherlands, Luxembourg, Portugal and the United Kingdom.

NYSE Euronext - Wikipedia, the free encyclopedia
NYSE Euronext, Inc. (NYSE: NYX, Euronext: NYX) (formerly NYSE Group, Inc. and Euronext N.V.) is a Euro-American for-profit corporation that operates multiple securities exchanges ...

BBC NEWS | Business | NYSE and Euronext in $20bn merger
The New York Stock Exchange and Euronext are to merge, creating a stock market worth $20bn (16bn euros; £11bn).

BBC NEWS | Business | Euronext 'attracted' to NYSE bid
Euronext reacts positively to the New York Stock Exchange's plans for a $21bn merger. ... The New York Stock Exchange (NYSE) has unveiled plans to merge with the pan-European ...

Meeting of the Euronext regulators
FSA/PN/121/2006 22 November 2006 . The Chairman’s Committee of the Euronext regulators met in Amsterdam on the 22 November, to consider a potential combination between the NYSE ...

Euronext.liffe on LIFFE CONNECT®
Market Solutions grew directly out of LIFFE's need to grow into a fully electronic exchange. No existing system could support the volume and diversity of LIFFE's product range, so ...

Euronext confirms bid from NYSE | Channel Register
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NYSE Euronext signs accord with Philippine bourse
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