Euronext will introduce a new trading platform, Euronext ETF Europe, in September 2025. The initiative is designed to address fragmentation in Europe’s ETF market by consolidating trading across its exchanges in Amsterdam, Milan, and Paris into a single, integrated system.
The platform will feature a unified European order book using Euronext’s Optiq trading technology, announced Euronext in a statement. This will replace the current model in which issuers must list ETFs on multiple national exchanges and where trading activity is often dispersed across various venues—on and off exchange.
Euronext ETF Europe will include standardised membership and market data access, as well as streamlined post-trade services. By concentrating liquidity in one place, Euronext aims to improve price discovery, reduce spreads, and simplify cross-border trading processes.
Post-trade consolidation
Post-trade services will be handled by Euronext Clearing and Euronext Securities. The goal is to create a single settlement chain across the participating markets. While the complete post-trade model is expected to be operational by September 2026, interim measures will allow trading members and custodians to adapt gradually.
Euronext is working with issuers and service providers to prepare for the transition. This includes testing, cross-membership alignment, and support with adapting existing ETF listings to the new structure.
Implications for market participants
The launch of Euronext ETF Europe could significantly alter the way ETFs are listed, traded, and settled in Europe. By reducing operational duplication and centralising liquidity, the platform is intended to bring efficiencies for issuers, trading firms, and institutional investors.
The move forms part of Euronext’s broader strategy to build a more integrated European capital market infrastructure, as previously reported by PostTrade 360°, with closer alignment to EU-level objectives for capital markets integration.
