Cboe Global to buy equities clearing house EuroCCP

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(Reuters) – Cboe Global Markets (Z:) has agreed to buy EuroCCP, giving the exchange operator full control over the equity clearing house.

Cboe, one of the world’s largest exchange holding companies, plans to fund the deal, which is expected to close in the first half of 2020, with cash on hand, the company said.

The terms of the deal were not disclosed.

The takeover continues a spate of activity among market infrastructure operators in Europe, with Switzerland’s stock exchange SIX and Euronext (PA:) vying to buy Spain’s BME (MC:), while London Stock Exchange Group (L:) has agreed a deal to take on data and analytics company Refinitiv.

EuroCCP is based in Amsterdam, where Cboe’s European arm has recently opened a new trading hub so that it can continue to serve European Union clients in the event that its London outpost loses access to the bloc’s financial markets after Brexit.

CBOE currently has a 20% stake in EuroCCP, along with Euronext (PA:), Nasdaq (O:), ABN Amro (AS:), and The Depository Trust & Clearing Corporation.

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