EURONEXT_Registration_Document_2017

PRESENTATION OF THE GROUP

Description of the Business

Spot FX trading In August 2017, Euronext acquired 90% of the shares of FastMatch, Inc. (“FastMatch”) – the fastest growing Electronic Communication Network (“ECN”) in the spot Foreign Exchange (“FX”) market with leading-edge technology, entrepreneurial spirit and access to a large, transparent and diversified pool of liquidity at unrivalled speed and capacity. FastMatch’s bespoke liquidity provision allows granular control of both anonymous and disclosed interactions via Flexible Matching, a configurable Smart Order Router that delivers enhanced execution quality. FastMatch is the only ECN to provide full disclosure of real-time pricing, matching speeds, volumes and a variety of associated pertinent information publicly. Connecting  Multicenter matching in LD4, NY4 and TY3 for FIX / Binary API and GUI desktop connections;  Swift connectivity for users with Direct Credit or Prime Broker / Credit Intermediary access. Technology  Developed from Credit Suisse Crossfinder, the world’s largest equities matching systems;  The fastest FX ECN offering swiftest possible response times and greater execution success;  Publicly published matching speeds unlike any competitor. Anonymous Trading  Deep liquidity provided by top tier banks, non-bankmarket makers and regional specialist;  Fully customisable trading sessions and price provision identified by unique tag;  Flexible Matching SOR technology configurable by fill rate, hold time and market impact;  Resting orders displayed to user specified FastMatch client subset to improve fill rates;  Innovative order types including Pegs, Icebergs and Protection variants. Disclosed Trading  Direct relationship pricing from user selected market makers and price providers;  Aggregated Best Bid / Offer from multiple disclosed sources across a single taker connection;  Full amount tiered pricing can be aggregated from chosen providers.

 supporting the development of trade finance in European grains and encouraging international users into our markets;  rolling out our OTC trade capture and CCP cleared platform;  continued support on building traction and liquidity in our new contracts launched since 2014;  monitoring of opportunities for non-organic growth. Derivatives Trading Members Trading members in Euronext’s derivative markets are either dealers, brokers or both. Their activities range from retail broking, investment banking, dealing, algorithmic and high frequency trading to international physical trading. The Group’s client base comprises 137 direct trading members (of which eighty-eight are both cash and derivatives and sixty-one are commodities trading members) as of 31 December 2017 and is significantly diversified both in terms of types of clients and geographic coverage. Trading members can also become liquidity providers, which is crucial to the good functioning of the price formation mechanism for derivative instruments. Liquidity providers enter into agreements with Euronext, specifying their obligations in terms of liquidity providing. Liquidity providers are able to place several orders at the same time through the use of mass quotes, allowing trading members to send buy and sell orders for many contract months using only one message, leading to optimal efficiency in updating Euronext’s full range of derivatives prices in a timely manner. Derivative Average Daily Volume by Geographic Origin The average daily volume on Euronext’s derivatives markets for the last twelve months ended 31 December 2017 reached 550,106 contracts representing a total open interest exceeding 14.7 million contracts at the end of December 2017. The table below shows the proportion of Euronext’s customer base by geographic origin (location of worldwide headquarters) using derivatives listed on its markets for the last twelve months ended 31 December 2017.

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Germany 2%

Italy 0%

Belgium 0%

Portugal 0%

Switzerland 6%

Others 0%

Ireland 6%

The Netherlands 30%

United Kingdom 12%

France 16%

USA 28%

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2017 REGISTRATION DOCUMENT