Euronext advances European CSD
18 December 2025 Europe
Image: j-mel/stock.adobe.com
Euronext has seen continued progress in its initiative to create a European central securities depository (CSD) model.
As part of the firm’s ‘Innovate for Growth 2027’ strategic plan, the initiative directly supports the European Union’s goal of a genuine Savings and Investment Union by addressing post-trade fragmentation and driving efficiency, innovation, and choice across European capital markets.
As part of its expansion project, Euronext Íø±¬³Ô¹Ï is working alongside issuing agents, such as Uptevia, ABN AMRO Bank, Rabobank, and Banque Internationale à Luxembourg, to build a European-wide issuance model.
Pierre Davoust, head of Euronext Íø±¬³Ô¹Ï, states: “Euronext’s European CSD expansion marks a major milestone in our commitment to building a more unified and efficient European capital market.
“By working together with leading financial institutions, we are unlocking new opportunities for issuers and investors, strengthening Europe’s financial infrastructure and supporting the EU’s vision for a true Savings and Investment Union.â€
Anthony Martin, deputy CEO of Uptevia, adds: “The mission of Uptevia, a corporate trust player in France, is to support companies of all sizes and their investors in their capital management and ancillary securities services.
“Being part of Euronext’s initiative fits with this purpose and allows us to support corporates — whether existing clients of Uptevia or not — that wish to move to Euronext Íø±¬³Ô¹Ï.â€
Through Euronext Íø±¬³Ô¹Ï’ European CSD model market participants will gain access to a single, consolidated platform for settlement and custody across multiple EU markets, simplifying operations and improving efficiency.
Streamlined processes and harmonised systems will reduce operational and execution costs, while the technology will foster automation, transparency, and innovation, the firm says.
Issuers will benefit from broader cross-border investor reach and enhanced liquidity, supported by simplified, faster, and more transparent corporate action management.
Richard van Etten, head of Corporate Broking & Issuer Services at ABN AMRO Bank, says: “In light of the EU’s Savings and Investment Union plans, we support developments that offer optionality in the issuance and post trade space, which resolves fragmentation.
“This should ultimately result in a better service and quality for issuers and shareholders, as well as more broadly support the European capital markets.â€
In September 2026, Euronext Íø±¬³Ô¹Ï will become the CSD of reference for four European markets, France, Italy, Belgium, and the Netherlands, for equities and exchange traded products.
Client working groups and regulatory coordination are already underway to ensure a smooth transition, with clients being able to onboard and test the new model in the first semester of 2026, ensuring a smooth transition and immediate access to benefits.
Earlier this year, Euronext successfully migrated its own shares to Euronext Íø±¬³Ô¹Ï Milan, demonstrating the operational readiness of its European model.
This marks only the first phase of Euronext’s long-term vision. Future expansion aims to centralise and optimise post-trade operations across all EU markets.
As part of the firm’s ‘Innovate for Growth 2027’ strategic plan, the initiative directly supports the European Union’s goal of a genuine Savings and Investment Union by addressing post-trade fragmentation and driving efficiency, innovation, and choice across European capital markets.
As part of its expansion project, Euronext Íø±¬³Ô¹Ï is working alongside issuing agents, such as Uptevia, ABN AMRO Bank, Rabobank, and Banque Internationale à Luxembourg, to build a European-wide issuance model.
Pierre Davoust, head of Euronext Íø±¬³Ô¹Ï, states: “Euronext’s European CSD expansion marks a major milestone in our commitment to building a more unified and efficient European capital market.
“By working together with leading financial institutions, we are unlocking new opportunities for issuers and investors, strengthening Europe’s financial infrastructure and supporting the EU’s vision for a true Savings and Investment Union.â€
Anthony Martin, deputy CEO of Uptevia, adds: “The mission of Uptevia, a corporate trust player in France, is to support companies of all sizes and their investors in their capital management and ancillary securities services.
“Being part of Euronext’s initiative fits with this purpose and allows us to support corporates — whether existing clients of Uptevia or not — that wish to move to Euronext Íø±¬³Ô¹Ï.â€
Through Euronext Íø±¬³Ô¹Ï’ European CSD model market participants will gain access to a single, consolidated platform for settlement and custody across multiple EU markets, simplifying operations and improving efficiency.
Streamlined processes and harmonised systems will reduce operational and execution costs, while the technology will foster automation, transparency, and innovation, the firm says.
Issuers will benefit from broader cross-border investor reach and enhanced liquidity, supported by simplified, faster, and more transparent corporate action management.
Richard van Etten, head of Corporate Broking & Issuer Services at ABN AMRO Bank, says: “In light of the EU’s Savings and Investment Union plans, we support developments that offer optionality in the issuance and post trade space, which resolves fragmentation.
“This should ultimately result in a better service and quality for issuers and shareholders, as well as more broadly support the European capital markets.â€
In September 2026, Euronext Íø±¬³Ô¹Ï will become the CSD of reference for four European markets, France, Italy, Belgium, and the Netherlands, for equities and exchange traded products.
Client working groups and regulatory coordination are already underway to ensure a smooth transition, with clients being able to onboard and test the new model in the first semester of 2026, ensuring a smooth transition and immediate access to benefits.
Earlier this year, Euronext successfully migrated its own shares to Euronext Íø±¬³Ô¹Ï Milan, demonstrating the operational readiness of its European model.
This marks only the first phase of Euronext’s long-term vision. Future expansion aims to centralise and optimise post-trade operations across all EU markets.
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