The material on this site is for financial institutions, professional investors and their professional advisers. It is for information only. Please read our Terms & Conditions, Privacy Policy and Cookies before using this site.

All material subject to strictly enforced copyright laws. © 2020 Euromoney, a part of the Euromoney Institutional Investor PLC.

Nasdaq takes Clearstream’s lead in Europe


Clearstream, an international bond clearing house, has stolen the limelight from the exchanges. This month it is expected to decide whether to merge with Euroclear or submit to a takeover by Deutsche Börse.

A merger between Clearstream and Euroclear could act as a catalyst for the centralization of clearing networks across Europe, which would be a huge cost saving for banks that should be passed on to their clients. The consolidation of Euroclear and Clearstream would leave the way open for further consolidation among the exchanges.

The European exchanges have been very active lately and things are warming up. The London Stock Exchange put up a fight for London futures and options exchange Liffe, only to lose out to Euronext, an exchange formed just last year. Now LSE is considering the possibility of an alliance with a derivatives player.

All this talk of consolidation in Europe raises the idea of an international exchange, with common trading platforms and cooperative clearing and settlement operations.

Take out a complimentary trial

Take out a 7 day trial to gain unlimited access to and analysis and receive expertly-curated updates direct to your inbox.


Already a user?

Login now


We use cookies to provide a personalized site experience.
By continuing to use & browse the site you agree to our Privacy Policy.
I agree