EURONEXT_Registration_Document_2017

PRESENTATION OF THE GROUP

Description of the Business

These are the CSDs in scope:

France Netherlands Belgium

1

Germany (CBF)

Italy

Spain

Central Securities Depositories Regulation (CSD Regulation) The regulation (EU) No. 909/2014 of the European Parliament and of the Council of 23 July 2014 on improving securities settlement in the European Union and on central securities depositories (CSDR) is now fully in force. The main purpose of the CSDR is to harmonize the settlement of financial instruments in Europe and to provide a set of common organisational and conduct requirements for CSDs. On 10 March 2017 the Regulatory Technical Standards (RTS) issued by ESMA and EBA were published in the Official Journal. The RTS entered into force 20 days after their publication ( i.e , 30 March 2017) and Interbolsa had 6 months (until 30 September 2017) to submit to its competent authority the authorisation process in order to be recognised as a CSD under CSD Regulation. The authorisation process was submitted by Interbolsa to its competent authority on 29 September 2017. Interbolsa is focused in the implementation of the CSDR. Securities Lending Management System Interbolsa has recently announced to the market participants that its Securities Lending Management System is now fully adapted to the specificities of T2S, therefore readily available to be used. This functionality enables its users to: (a) diffuse information regarding demand and offer of securities to all participants; (b) confirm the characteristics of the lending operations between counterparties; and (c) carry out the settlements inherent to the opening and closing of lending operations. Fund Management Platform Interbolsa’s Fund Management Platformand Order Routing system is now fully adapted to the specificities of T2S, therefore readily available to be used by any fund management company, for investment funds. The main objective is to leverage the use of the mentioned platform and its order routing capabilities and enable Interbolsa to attract investment funds from independent and bank owned fundmanagers.

Since this announcement, Euronext already integrated twelve open- end funds and Euronext expects the number of clients and volumes to raise in the months to come. New Pricing After Interbolsa’s migration to T2S, Euronext’s CSD has worked on a new pricing. The readjustments in its price list – for both Issuers and Financial Intermediaries – was implemented on 1 April 2017 having in mind to reinforce the attractiveness of the Portuguese market while also striving to balance this goal with the need to protect both Euronext’s competitiveness and profitability. Commercial Intensity Started in 2017 and throughout the first quarter 2018, Interbolsa will intensify one-to-one meetings with existing and prospective clients (Issuers, FIs and Fundmanagers), in order to ensure that (a) Euronext keeps them abreast of recent, on-going and planned developments in Euronext’s service portfolio, while (b) aiming to attract more debt securities, commercial paper and equities, as well as investment funds, with the objective of increasing the volumes of (i) assets under custody and (ii) settlement of transactions, with a direct and positive impact on Interbolsa revenues by year-end and beyond. MARKET SOLUTIONS & OTHER 1.3.7.1 Market solutions & other – Products and Services Market solutions & other comprises Euronext’s commercial technology solutions and services businesses. Euronext offers custom solutions and cost-effective managed services to exchanges and venue operators who require complex functional capabilities and low latency processing across multiple-asset classes. The market solutions & other business benefits from the technology developments made by Euronext for its own markets and, in return, contributes recurring revenue that is non-cyclic and not trading related. Operating as a technology vendor also gives Euronext an 1.3.7

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2017 REGISTRATION DOCUMENT