Cboe Completes Acquisition of EuroCCP, Plans New Derivatives Exchange

Cboe Global Markets, Inc. announced it has completed its acquisition of EuroCCP, a leading pan-European equities clearing house. The acquisition paves the way for the planned launch of Cboe Europe Derivatives, a new Amsterdam-based futures and options market, in the first half of 2021, subject to regulatory approvals. EuroCCP currently clears trades for 37 trading venues, which represent close to 95 percent of all equity trades executed on organized markets in Europe. Cboe sees an opportunity to further grow this business by capitalizing on the strength of its pan-European network, and by pursuing the development of derivatives trading and clearing capabilities in the region. As part of the transaction, EuroCCP put in place a committed credit facility of up to €1.5 billion. This facility is an important part of several new tools and procedures designed to strengthen the firm's liquidity risk management framework and help ensure EuroCCP continues to meet relevant liquidity requirements under the European Market Infrastructure Regulation (EMIR).