Euronext - 2020 Universal Registration Document

RISK MANAGEMENT & CONTROL STRUCTURE

2.1 Risk Factors

48

Euronext analyses and monitors risks whose occurrence could have a material impact on the Group’s business. The table of the Group’s principal risks categorizes these risks, the most material risks taking into account the impact and the probability of their occurrence. Although Euronext believes that the risks and uncertainties described below are the material risks and uncertainties concerning the Group’s business and industry, they are not the only risks and uncertainties relating to the Group. Other risks, events, facts or circumstances not presently known to Euronext, or that Euronext currently deems to be immaterial could, individually or cumulatively, prove to be important and may have a significant negative impact on the Group.

Covid-19 Risk Strategic Risks Operational Risks Compliance Risks Financial Risks

48 49 51 53 54

2.2 Mitigation Measures

54

Covid-19

54 55

Strategic Transformation Risk

Regulatory Evolution and Enhanced Regulatory Scrutiny Risk

55 55 55 55 55 55 55 56 56 56 56 56 56 56

Global and Regional Economy

Competition on Capital Markets Risk

Cybersecurity Risk Technology Risk

Change Management and Integration Management Risk

Clearing and Settlement Risk

Employee Risk

Capital Requirements Risk Regulatory and Liabilities Risk

Ownership and Intellectual Property Risk

Market Risk Liquidity Risk

Credit Risk

47

2020 UNIVERSAL REGISTRATION DOCUMENT