The FINANCIAL -- Intercontinental Exchange announced it has acquired a 4.7% stake in Euroclear for EUR 275 million.
ICE anticipates having one representative join the Board of Euroclear. Euroclear is one of the leading providers of post-trade services, including settlement, central securities depositories and related services for cross-border transactions across asset classes, according to Intercontinental Exchange.
“We are thrilled to become a shareholder of Euroclear,” said ICE Chairman and CEO Jeffrey C. Sprecher. “Euroclear’s infrastructure plays an increasingly important role as technology, collateral, risk management and regulation continue to drive an emphasis on post-trade services. This transaction demonstrates our continued focus on expanding our investments in mission critical clearing and risk management assets. We look forward to supporting Euroclear's role as an independent provider of vitally important financial market infrastructure services.”