Euronext - 2019 Universal Registration Document

Presentation of the Group

Description of the Business

Equity Index Products: Hedge Against Fluctuations in The European Equity Market Equity index derivatives allow holders to hedge against, or take position on, changes in the future level of a particular index, the investor paying or receiving a cash sum representing its loss or gain on the future or option. Euronext’s equity index derivatives allow customers to hedge against fluctuations in a range of European stock market indices and the European equity market as a whole, and many are available as weekly or daily contracts as well as the more usual monthly contracts. Euronext’s flagship equity index products include the CAC 40® index futures contract, which is the second most traded national index future in Europe, in terms of number of contracts traded, and the AEX® Index options contract, which is one of the most on-exchange traded national index options in Europe. Euronext’s mini index derivatives (“minis”) allow investors to follow the same investment strategies but with less initial margin or a smaller trading amount. Dividend Products: A New and Rapidly Growing Asset Class Dividend index futures and stock dividend futures allow holders to hedge against, or take position on, changes in the dividend of a particular index or underlying share. Euronext’s flagship dividend products include the CAC 40® dividend index futures, which is one of the most traded dividend index futures in Europe and more than 290 Single Stock Dividend Futures (including 56 contracts on US names), making up the broadest offering in Europe. The Total Return Future (TRF) on the CAC 40® Index launched in October 2018 has been developed by Euronext in order to meet clients’ need for a listed solution to trade total return swaps. With increased capital requirements being imposed by Basel III and EMIR, the new total return future contract offers strong netting advantages while providing a transparent and secure trading environment to access the implied equity repo rate on the constituents of the CAC 40 Index. Euronext is the first Exchange to launch a TRF on a national benchmark. Commodity Derivatives Euronext is a leading provider of agricultural commodity derivatives with several of the Company’s contracts established as global price benchmarks for the international commercial and financial community. Volumes have grown strongly in recent years as commercials and investors alike increasingly seek to hedge their risks or use commodities to help diversify their portfolios. The average daily volume of the flagship milling wheat futures contract remained stable and reached a level of more than 42,000 lots traded on a daily basis, representing the equivalent of 2.1 million tons of wheat or 3.7 times the milling wheat quality EU production traded over the course of one year. The Rapeseed futures contract volume suffered from adverse physical market conditions with a significant 16% drop in volumes year on, as the industry suffers from uncertainties regarding biofuels. The corn contract gained some renewed traction on the back of the announcement of the new Dunkirk and Ghent delivery silos, which should capture import flows besides French bay export volumes. These futures contracts have obtained international Total Return Product: A Listed Solution to Access Implied Equity Repo

Euronext’s derivatives team has a mission to bring innovation and agility to the derivatives markets. Since Euronext’s IPO in June 2014, Euronext focused on researching and developing new derivatives products together with its client community. These are now beginning to come to market and Euronext is excited about expanding its capabilities and making its business work better for Euronext’s customers. Euronext is pursuing the expansion of its commodity derivatives strategy along three axes: 1. focus on the core for European agricultural markets with EIM, new delivery points in corn and New Market Participants programme; 2. innovation and diversification with cash settled and Paris real estate; 3. enhanced client centric approach.

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NUMBER OF CONTRACTS TRADED (LOTS IN MILLION)

41 39 37 38 38

40 40

37

1Q2018 2Q2018 3Q2018 4Q2018 1Q2019 2Q2019 3Q2019 4Q2019

NOTIONAL VALUE (€ BILLION)

1,082 1,083

1,018 995 940 1,064

1,002

926

1Q2018 2Q2018 3Q2018 4Q2018 1Q2019 2Q2019 3Q2019 4Q2019

Financial Derivatives

Equity Products: Versatility And Leverage Equity options and futures enable holders to hedge against, or take position on, changes in the underlying share. More than 233 equity options and over 389 equity futures can be traded on Euronext, making the Company one of the leading markets for equity derivatives trading. Equity options trading has historically been particularly active in Amsterdam due to high retail participation.

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2019 UNIVERSAL REGISTRATION DOCUMENT