Euronext to Acquire Nasdaq's Nordic Power Futures Business

Euronext, a leading European capital market infrastructure provider, has announced a binding agreement to acquire Nasdaq's Nordic power futures business. This acquisition aligns with Euronext's strategy to expand its presence in power markets and will enhance its position in the Nordic and Baltic regions. The transaction involves transferring Nasdaq's Nordic power derivatives' open positions to Euronext Clearing, expected to be completed with regulatory approvals. Nasdaq will continue its European Market Services and multi-asset clearing, exiting only its Nordic power futures. Euronext aims to leverage this acquisition to further establish a long-standing power futures market, complementing its Nord Pool initiative. Client testing will commence in March 2025, with the infrastructure anticipated to go live in June 2025, and full migration of Nasdaq's business by the first half of 2026. No financial terms were disclosed.