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BRIEF-Euronext and Intercontinental Exchange sign agreement for derivatives clearing
April 3, 2017 / 5:48 AM / 8 months ago

BRIEF-Euronext and Intercontinental Exchange sign agreement for derivatives clearing

April 3 (Reuters) - Euronext NV:

* Euronext and Intercontinental Exchange sign agreement for derivatives clearing

* Formal clearing services agreement expected Q2 2017

* Derivatives clearing operations in Amsterdam combined with settlement and collateral infrastructure operated from Paris

* Migration in H2 2018, ahead of the expiration of existing agreement with LCH.Clearnet SA

* Agreement provides for a continued income stream for Euronext, with EBITDA levels that should be comparable to FY 2016

* Agreement covers the clearing of financial derivatives and commodity derivatives for a period of 10 years with ICE Clear Netherlands

* Will contribute a 10 million euros ($10.68 million) upfront investment in ICE Clear Netherlands Source text for Eikon: Further company coverage: ($1 = 0.9365 euros) (Gdynia Newsroom)

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