Intercontinental Exchange (ICE) has acquired a 4.7% stake in Euroclear for EUR275 million, a move which will strengthens ICE’s footprint in Europe.
ICE anticipates having one representative join the Board of Euroclear. Euroclear is a leading provider of post-trade services, including settlement, central securities depositories and related services for cross-border transactions across asset classes.
“We are thrilled to become a shareholder of Euroclear,” said ICE Chairman and CEO Jeffrey C. Sprecher. “Euroclear’s infrastructure plays an increasingly important role as technology, collateral, risk management and regulation continue to drive an emphasis on post-trade services. This transaction demonstrates our continued focus on expanding our investments in mission critical clearing and risk management assets. We look forward to supporting Euroclear’s role as an independent provider of vitally important financial market infrastructure services.”
The stake means ICE has a presence in all three legs of securities transactions in Europe – the other two being trading and clearing.
Euroclear is owned by more than 150 of its users, mainly banks and also settles transactions for Euronext, the pan-European stock exchange which Intercontinental Exchange offloaded after it acquired the New York Stock Exchange.
Intercontinental Exchange is a Fortune 500 company that operates a leading network of global futures, equity and equity options exchanges, as well as global clearing and data services across financial and commodity markets. The New York Stock Exchange is the world leader in capital raising, listings and equities trading.