New deal with Dutch ministry of finance enables exchange to acquire and invest
European exchange Euronext outlined on
Friday its highly-anticipated new strategic plan, hinting its
current clearing deal with LCH may not be extended beyond
Euronext’s 'Agility for
Growth’ programme covers the
exchange’s financial targets to 2019, with new
initiatives expected to bring in additional revenue of €70
million and reduce its cost base by €22 million gross.
The firm’s new strategic plan
hints that its current clearing contract with LCH –
which is set to expire in December 2018 – may not be
extended. "Euronext is exploring all possible avenues for the
clearing of its operations and intends to develop optionality
for its clients that will bring the same financial benefits to
the Company as the current arrangement does," said the
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