A press release, in the morning of Tuesday 10 December, said the Chicago based exchange holding giant and the European clearing house had just entered into a definite acquisition agreement the same morning.
According to the press release, the transaction “brings together two pan–European organizations that have long championed competition, open access and clearing interoperability in Europe”. Owning EuroCCP is intended to strengthen Cboe’s current European equities business and create a “pathway for equity derivatives trading and clearing in the region”.
The take-over is expected to be closed during the first half of 2020.
News site Finextra reports that exchange group Euronext says it is receiving €9 million for its 20 percent stake in EuroCCP – concluding that the value of the total transaction is €45 million.
EuroCCP has a strong position in the European market for clearing of equities, with presence at 39 venues, where in total nearly 95 percent of Europe’s equity trade is said to take place.