75-550: The European Public Real Estate Association ( EPRA ), is a non-profit association representing Europe's publicly listed property companies. It is run by an independent Board of Directors chaired by Pere Viñolas Serra. From its formation in Amsterdam in 1999, partnering initially with Euronext and later with FTSE and NAREIT, the three bodies established the FTSE EPRA/NAREIT Global Index series which
150-639: A consolidated tape for the European Union , as part of the Capital Markets Union proposed by the European Commission . Listing of Euro Stoxx 50 companies as of 2021: Euronext operates its main regulated market, as well two types of multilateral trading facilities (MTFs) providing access to listing for small and medium-sized enterprises (SMEs), titled Euronext Growth and Euronext Access . Euronext maintains
225-612: A budget deficit of less than 3% of their GDP, a debt ratio of less than 60% of GDP (both of which were ultimately widely flouted after introduction), low inflation, and interest rates close to the EU average. In the Maastricht Treaty, the United Kingdom and Denmark were granted exemptions per their request from moving to the stage of monetary union which resulted in the introduction of the euro (see also United Kingdom and
300-467: A combination of $ 11.27 in cash per share plus .1703 shares of stock. The acquisition is subject to regulator approval, though since the operations of ICE and NYSE have little in common—ICE is largely devoted to trading commodities, as opposed to NYSE's business of trading stocks and securities—the deal is not expected to be blocked. ICE said that after the deal closed it would sell the Euronext portion of
375-574: A consortium of eleven investors decided to invest in the company as "reference shareholders". These investors owned 33.36% of Euronext's capital and have a 3 years lockup period: Euroclear , BNP Paribas , BNP Paribas Fortis , Société Générale , Caisse des Dépôts , BPI France , ABN Amro , ASR, Banco Espirito Santo , Banco BPI and Belgian holding public company Belgian Federal Holding and Investment Company [ fr ] (SFPI/FPIM). They have 3 board seats. In June 2014, EnterNext launched two initiatives to boost SME equity research and support
450-558: A foreign trading currency in Cuba since 1998, Syria since 2006, and Venezuela since 2018. In 2009, Zimbabwe abandoned its local currency and introduced major global convertible currencies instead, including the euro and the United States dollar. The direct usage of the euro outside of the official framework of the EU affects nearly 3 million people. Outside the eurozone, two EU member states have currencies that are pegged to
525-565: A listed company itself after completing its initial public offering. In December 2001, Euronext acquired the shares of the London International Financial Futures and Options Exchange (LIFFE), forming Euronext.LIFFE. In 2002, the group merged with the Portuguese stock exchange Bolsa de Valores de Lisboa e Porto (BVLP), renamed Euronext Lisbon . In 2003, Euronext cash products were integrated onto
600-542: A number of companies, including Company Webcast (webcasting) , iBabs (board portal), InsiderLog (compliance software) . In 1998, the London Stock Exchange and Deutsche Börse announced their intention of forming an alliance to fend off competition from the United States, and take advantage from the European Union's (EU) single currency and harmonisation of financial markets . In April 1999
675-555: A plan for Euronext to compete more effectively on the Dutch retail segment. In May 2017, Alternext was renamed to Euronext Growth. On 14 August 2017, Euronext announced the completion of its acquisition of FastMatch, a currency trading platform. On 27 March 2018, Euronext announced the completion of its acquisition of the Irish Stock Exchange. On 18 June 2019, Euronext announced the completion of its acquisition of
750-642: A rival offer for the European Stock exchange operator from Deutsche Börse , the German stock market. Contrary to statements that it would not raise its bid, on 23 May 2006, Deutsche Börse unveiled a merger bid for Euronext, valuing the pan-European exchange at €8.6 billion (US$ 11b), €600 million over NYSE Group's initial bid. Despite this, NYSE Group and Euronext penned a merger agreement, subject to shareholder vote and regulatory approval. The initial regulatory response by SEC chief Christopher Cox (who
825-448: A single order book at its proprietary market platform Optiq . Euronext manages various country (national), as well as pan-European regional and sector and strategy indices. Euronext FX is a global foreign exchange trading platform, known as FastMatch until 2019. Euronext offers trading in a number of commodities, including: Euronext operates derivatives markets. Euronext is the largest centre for debt and funds listings in
SECTION 10
#1732779670168900-606: A single platform (NSC). In 2004, Euronext derivatives products were integrated onto LIFFE CONNECT . In 2005, Euronext introduced Alternext as a market segment to help finance small and mid-class companies in the Eurozone. Due to apparent moves by NASDAQ to acquire the London Stock Exchange or Euronext itself, NYSE Group, owner of the New York Stock Exchange (NYSE), offered €8 billion (US$ 10.2b) in cash and shares for Euronext on 22 May 2006, outbidding
975-451: A strategy most suited to support their growth. The ICE's deal was approved by the shareholders of NYSE Euronext and Intercontinental Exchange on 3 June 2013. The European Commission approved the acquisition on 24 June 2013 and on 15 August 2013 the US regulator, SEC, granted approval of the acquisition. European regulators and ministries of Finance of the participating countries approved
1050-567: Is registered in Amsterdam but its operational headquarters are located in Paris . It operates major stock exchanges in seven countries: France ( Euronext Paris ), the Netherlands ( Euronext Amsterdam ), Belgium ( Euronext Brussels ), Ireland ( Euronext Dublin ), Portugal ( Euronext Lisbon ), Italy ( Borsa Italiana ) and Norway ( Euronext Oslo Børs ). Euronext traces its origins back to
1125-598: Is a major donor to the EFSF. To be included in the eurozone, countries had to fulfil certain convergence criteria , but the meaningfulness of such criteria was diminished by the fact it was not enforced with the same level of strictness among countries. According to the Economist Intelligence Unit in 2011, "[I]f the [euro area] is treated as a single entity, its [economic and fiscal] position looks no worse and in some respects, rather better than that of
1200-542: Is also the sole currency in three overseas territories of France that are not themselves part of the EU, namely Saint Barthélemy , Saint Pierre and Miquelon , and the French Southern and Antarctic Lands , as well as in the British Overseas Territory of Akrotiri and Dhekelia . The euro has been adopted unilaterally as the sole currency of Montenegro and Kosovo. It has also been used as
1275-469: Is discouraged by the commission, as is the practice of certain shops of refusing to accept high-value euro notes. Commemorative coins with €2 face value have been issued with changes to the design of the national side of the coin. These include both commonly issued coins, such as the €2 commemorative coin for the fiftieth anniversary of the signing of the Treaty of Rome, and nationally issued coins, such as
1350-463: Is now used as the global indices platform from which to benchmark the performance of stock exchange-quoted property companies and real estate investment trusts . The association has been located in Brussels since 2009. Raising the understanding of real estate in relation to investments and its role in society in general is a core activity for EPRA. Property company data and statistics derived from
1425-723: Is the largest center for debt and funds listings in the world, and provides technology and managed services to third parties. In addition to its main regulated market, it operates Euronext Growth and Euronext Access , providing access to listing for small and medium-sized enterprises . Euronext's commodity market includes the electric power exchange Nord Pool , as well as Fish Pool . Post-trade services include clearing performed by Euronext's multi-asset clearing house , Euronext Clearing , headquartered in Rome , as well as custody and settlement performed by Euronext's central securities depository (CSD), Euronext Securities . Euronext
1500-403: The British Overseas Territory of Akrotiri and Dhekelia , as well as unilaterally by Montenegro and Kosovo . Outside Europe, a number of special territories of EU members also use the euro as their currency. Additionally, over 200 million people worldwide use currencies pegged to the euro . The euro is the second-largest reserve currency as well as the second-most traded currency in
1575-644: The European Central Bank (ECB, Frankfurt am Main ) and the Eurosystem , composed of the central banks of the eurozone countries. As an independent central bank, the ECB has sole authority to set monetary policy . The Eurosystem participates in the printing, minting and distribution of euro banknotes and coins in all member states, and the operation of the eurozone payment systems. The 1992 Maastricht Treaty obliges most EU member states to adopt
SECTION 20
#17327796701681650-473: The Italian Bourse in 2021, Euronext obtained the multi-asset clearing house Cassa di Compensazione e Garanzia S.p.A. (CC&G). CC&G was renamed Euronext Clearing . Euronext Corporate Services (ECS) is a wholly-owned subsidiary of Euronext. Founded in 2016, ECS provides solutions and services to more than 4,000 organisations, ranging from corporates to the public sector. It has acquired
1725-568: The London Stock Exchange Group (LSEG) entered into exclusive talks to sell the Italian Bourse (formally 100% of London Stock Exchange Group Holdings Italia S.p.A. ), situated in Milan , to Euronext. As part of the deal, CDP Equity, 100% owned by Cassa Depositi e Prestiti , and Intesa Sanpaolo would become Euronext reference shareholders. A €4.3 bn deal was announced on 9 October. On 29 April 2021, Euronext announced that
1800-720: The Oslo Stock Exchange . On 5 December 2019, Euronext announced that it would acquire 66% of the European power exchange Nord Pool . The acquisition was completed on 15 January 2020. On 23 April 2020, Euronext announced that it would acquire ca. 70% of the Danish Central Securities Depository, VP Securities . The acquisition was completed on 4 August 2020. On 18 September 2020, as part of regulatory remedies to see through its $ 27 billion purchase of data provider Refinitiv ,
1875-555: The dobra of São Tomé and Príncipe was officially linked with the euro. Additionally, the Moroccan dirham is tied to a basket of currencies, including the euro and the US dollar, with the euro given the highest weighting. These countries generally had previously implemented a currency peg to one of the major European currencies (e.g. the French franc , Deutsche Mark or Portuguese escudo ), and when these currencies were replaced by
1950-507: The " eurozone ", some 347 million people in total as of 2023 . According to bilateral agreements with the EU , the euro has also been designated as the sole and official currency in a further four European microstates awarded minting rights (Andorra, Monaco, San Marino and the Vatican City). All but one (Denmark) current, and any potential future EU members, are obliged to adopt the euro when economic conditions permit. The euro
2025-585: The ECB's banknotes are put into circulation by the NCBs, thereby incurring matching liabilities vis-à-vis the ECB. These liabilities carry interest at the main refinancing rate of the ECB. The other 92% of euro banknotes are issued by the NCBs in proportion to their respective shares of the ECB capital key, calculated using national share of European Union (EU) population and national share of EU GDP, equally weighted. Member states are authorised to print or to commission bank note printing. As of November 2022 , these are
2100-605: The EU since 1993 have pledged to adopt the euro in due course. The Maastricht Treaty was amended by the 2001 Treaty of Nice , which closed the gaps and loopholes in the Maastricht and Rome Treaties. The 20 participating members are EU Outermost Regions : Overseas Territories : Special Autonomous Territories : Microstates with a monetary agreement: British Overseas Territory : Unilateral adopters: The following EU member states committed themselves in their respective Treaty of Accession to adopt
2175-461: The European Union , the Latin alphabet version of euro is used (as opposed to the less common Greek or Cyrillic) and Arabic numerals (other text is used on national sides in national languages, but other text on the common side is avoided). For the denominations except the 1-, 2- and 5-cent coins, the map only showed the 15 member states of the union as of 2002. Beginning in 2007 or 2008 (depending on
2250-520: The Netherlands, Belgium, Portugal, Ireland, and Norway. Its creation was followed by the introduction of the single currency and harmonisation of financial markets. The present day Euronext was spun off from the Intercontinental Exchange (ICE) in 2014, shortly after ICE's acquisition of NYSE Euronext the year before. On 23 August 2023, the company formed EuroCTP as a joint venture with 13 other bourses, in an effort to provide
2325-544: The Portuguese escudos , which ceased to have monetary value after 31 December 2002, although banknotes remained exchangeable until 2022. A special euro currency sign (€) was designed after a public survey had narrowed ten of the original thirty proposals down to two. The President of the European Commission at the time ( Jacques Santer ) and the European Commissioner with responsibility for
European Public Real Estate Association - Misplaced Pages Continue
2400-522: The US dollar, peaking at US$ 1.60 on 18 July 2008 and since then returning near to its original issue rate. On 13 July 2022, the two currencies hit parity for the first time in nearly two decades due in part to the 2022 Russian invasion of Ukraine . Then, in September 2022, the US dollar again had a face value higher than the Euro, at around US dollar 0.95 per euro. The euro is managed and administered by
2475-481: The US or the UK" and the budget deficit for the euro area as a whole is much lower and the euro area's government debt/GDP ratio of 86% in 2010 was about the same level as that of the United States. "Moreover", they write, "private-sector indebtedness across the euro area as a whole is markedly lower than in the highly leveraged Anglo-Saxon economies". The authors conclude that the crisis "is as much political as economic" and
2550-430: The United States were relatively strong creditors – gained attention in summer 2012 even as Germany received a debt-rating warning of its own. The euro is the sole currency of 20 EU member states : Austria, Belgium, Croatia, Cyprus, Estonia, Finland, France, Germany, Greece, Ireland, Italy, Latvia, Lithuania, Luxembourg, Malta, the Netherlands, Portugal, Slovakia, Slovenia, and Spain. These countries constitute
2625-462: The acquisition was completed. Euro The euro ( symbol : € ; currency code : EUR ) is the official currency of 20 of the 27 member states of the European Union . This group of states is officially known as the euro area or, more commonly, the eurozone . The euro is divided into 100 euro cents . The currency is also used officially by the institutions of the European Union , by four European microstates that are not EU members,
2700-536: The analysis of annual reports by auditor Deloitte. Euronext Euronext N.V. (short for European New Exchange Technology ) is a European bourse that provides trading and post-trade services for a range of financial instruments. Traded assets include regulated equities , exchange-traded funds (ETF), warrants and certificates, bonds , derivatives , commodities , foreign exchange as well as indices . In December 2021, it had nearly 2,000 listed issuers worth €6.9 trillion in market capitalisation. Euronext
2775-464: The coin to commemorate the 2004 Summer Olympics issued by Greece. These coins are legal tender throughout the eurozone. Collector coins with various other denominations have been issued as well, but these are not intended for general circulation, and they are legal tender only in the member state that issued them. A number of institutions are authorised to mint euro coins: The design for the euro banknotes has common designs on both sides. The design
2850-473: The common side of all cent coins). In Community legislative acts the plural forms of euro and cent are spelled without the s , notwithstanding normal English usage. Otherwise, normal English plurals are used, with many local variations such as centime in France. All circulating coins have a common side showing the denomination or value, and a map in the background. Due to the linguistic plurality in
2925-497: The company, including stock exchanges in Amsterdam, Brussels, Lisbon and Paris. The deal went through and Euronext is a sister division to NYSE and part of ICE. ICE CEO Jeffrey Sprecher would continue in that position at the combined company, while NYSE CEO Duncan Niederauer would serve as president. The future of the New York Stock Exchange's historic trading floor under ICE has not been announced. ICE closed
3000-492: The country that issued the coin. Euro coins from any member state may be freely used in any nation that has adopted the euro. The coins are issued in denominations of €2 , €1 , 50c , 20c , 10c , 5c , 2c , and 1c . To avoid the use of the two smallest coins, some cash transactions are rounded to the nearest five cents in the Netherlands and Ireland (by voluntary agreement) and in Finland and Italy (by law). This practice
3075-452: The country), the old map was replaced by a map of Europe also showing countries outside the EU . The 1-, 2- and 5-cent coins, however, keep their old design, showing a geographical map of Europe with the EU member states as of 2002, raised somewhat above the rest of the map. All common sides were designed by Luc Luycx . The coins also have a national side showing an image specifically chosen by
European Public Real Estate Association - Misplaced Pages Continue
3150-615: The creation of Euronext London to offer listing facilities in the UK. As such, Euronext received in June 2014 Recognized Investment Exchange (RIE) status from Britain's Financial Conduct Authority. On 20 December 2012, the boards of directors of both Intercontinental Exchange (ICE) and the NYSE Euronext approved an $ 8 billion acquisition of NYSE Euronext. Under the terms shareholders of NYSE would receive either $ 33.12 in cash for each share or .2581 IntercontinentalExchange Inc. shares, or
3225-436: The deal and on 13 November 2013 the acquisition was completed. Part of ICE's deal to acquire NYSE Euronext was a spin-off for Euronext, which was considered a positive element for European stakeholders. After a complex series of operations, this occurred on 20 June 2014, through an initial public offering (IPO). The former Euronext.LIFFE was retained by ICE and renamed ICE Futures Europe . In order to stabilise Euronext,
3300-480: The euro ( Yves-Thibault de Silguy ) then chose the winning design. Regarding the symbol, the European Commission stated on behalf of the European Union : The symbol € is based on the Greek letter epsilon (Є), with the first letter in the word "Europe" and with 2 parallel lines signifying stability. The European Commission also specified a euro logo with exact proportions. Placement of the currency sign relative to
3375-551: The euro ). The name "euro" was officially adopted in Madrid on 16 December 1995. Belgian Esperantist Germain Pirlot , a former teacher of French and history, is credited with naming the new currency by sending a letter to then President of the European Commission , Jacques Santer , suggesting the name "euro" on 4 August 1995. Due to differences in national conventions for rounding and significant digits, all conversion between
3450-687: The euro , which is a precondition to joining the eurozone. The Danish krone and Bulgarian lev are pegged due to their participation in the ERM ;II . Additionally, a total of 21 countries and territories that do not belong to the EU have currencies that are directly pegged to the euro including 14 countries in mainland Africa ( CFA franc ), two African island countries ( Comorian franc and Cape Verdean escudo ), three French Pacific territories ( CFP franc ) and two Balkan countries, Bosnia and Herzegovina ( Bosnia and Herzegovina convertible mark ) and North Macedonia ( Macedonian denar ). On 1 January 2010,
3525-453: The euro their currencies became pegged to the euro. Pegging a country's currency to a major currency is regarded as a safety measure, especially for currencies of areas with weak economies, as the euro is seen as a stable currency, prevents runaway inflation, and encourages foreign investment due to its stability. In total, as of 2013 , 182 million people in Africa use a currency pegged to
3600-445: The euro upon meeting certain monetary and budgetary convergence criteria , although not all participating states have done so. Denmark has negotiated exemptions, while Sweden (which joined the EU in 1995, after the Maastricht Treaty was signed) turned down the euro in a 2003 non-binding referendum , and has circumvented the obligation to adopt the euro by not meeting the monetary and budgetary requirements. All nations that have joined
3675-549: The euro. However they do not have a deadline to do so and can delay the process by deliberately not complying with the convergence criteria (such as by not meeting the convergence criteria to join ERM II). Bulgaria and Romania are actively working to adopt the euro, while the remaining states do not have a migration plan in progress. The euro is divided into 100 cents (also referred to as euro cents , especially when distinguishing them from other currencies, and referred to as such on
3750-421: The eurozone are also treated as domestic transactions; however paper-based payment orders, like cheques, have not been standardised so these are still domestic-based. The ECB has also set up a clearing system , TARGET , for large euro transactions. The euro was established by the provisions in the 1992 Maastricht Treaty . To participate in the currency, member states are meant to meet strict criteria , such as
3825-427: The former European Currency Unit (ECU) at a ratio of 1:1 (US$ 1.1743 at the time). Physical euro coins and banknotes entered into circulation on 1 January 2002, making it the day-to-day operating currency of its original members, and by March 2002 it had completely replaced the former currencies. Between December 1999 and December 2002, the euro traded below the US dollar, but has since traded near parity with or above
SECTION 50
#17327796701683900-664: The high profile and historic trading floors of its other earlier acquisitions, the International Petroleum Exchange and the New York Board of Trade in New York. In December 2012 Intercontinental Exchange (ICE) announced plans to acquire NYSE Euronext, owner of Euronext, in an $ 8.2 billion takeover. In May 2013, Euronext established Enternext as a subsidiary to help small and medium-size enterprises (SMEs) listed on Euronext outline and apply
3975-466: The indices form the basis of wide-ranging academic research on the listed sector (both commissioned by EPRA and independently conducted). On a financial reporting level, EPRA's aim is to establish consistent reporting across the real estate sector. The Association encourages the adoption of an industry-wide set of financial reporting KPIs, and Gold, Silver, Bronze and Most Improved Best Practice Recommendations (BPR) Awards are delivered to companies based on
4050-556: The initial designs by Robert Kalina were of specific bridges, including the Rialto and the Pont de Neuilly , and were subsequently rendered more generic; the final designs still bear very close similarities to their specific prototypes; thus they are not truly generic. The monuments looked similar enough to different national monuments to please everyone. The Europa series, or second series, consists of six denominations and no longer includes
4125-685: The national currencies ceased to be legal tender varied from member state to member state. The earliest date was in Germany, where the mark officially ceased to be legal tender on 31 December 2001, though the exchange period lasted for two months more. Even after the old currencies ceased to be legal tender, they continued to be accepted by national central banks for periods ranging from several years to indefinitely (the latter for Austria, Germany, Ireland, Estonia and Latvia in banknotes and coins, and for Belgium, Luxembourg, Slovenia and Slovakia in banknotes only). The earliest coins to become non-convertible were
4200-559: The national currencies had to be carried out using the process of triangulation via the euro. The definitive values of one euro in terms of the exchange rates at which the currency entered the euro are shown in the table. The rates were determined by the Council of the European Union , based on a recommendation from the European Commission based on the market rates on 31 December 1998. They were set so that one European Currency Unit (ECU) would equal one euro. The European Currency Unit
4275-696: The numeric amount varies from state to state, but for texts in English published by EU institutions, the symbol (or the ISO -standard "EUR") should precede the amount. Following the U.S. financial crisis in 2008, fears of a sovereign debt crisis developed in 2009 among investors concerning some European states, with the situation becoming particularly tense in early 2010 . Greece was most acutely affected, but fellow Eurozone members Cyprus , Ireland , Italy , Portugal , and Spain were also significantly affected. All these countries used EU funds except Italy, which
4350-403: The printers: Capital within the EU may be transferred in any amount from one state to another. All intra-Union transfers in euro are treated as domestic transactions and bear the corresponding domestic transfer costs. This includes all member states of the EU, even those outside the eurozone providing the transactions are carried out in euro. Credit/debit card charging and ATM withdrawals within
4425-511: The public; a design competition will also be held. Since 1 January 2002, the national central banks (NCBs) and the ECB have issued euro banknotes on a joint basis. Eurosystem NCBs are required to accept euro banknotes put into circulation by other Eurosystem members and these banknotes are not repatriated. The ECB issues 8% of the total value of banknotes issued by the Eurosystem. In practice,
4500-455: The result of the fact that the euro area lacks the support of "institutional paraphernalia (and mutual bonds of solidarity) of a state". The crisis continued with S&P downgrading the credit rating of nine euro-area countries, including France, then downgrading the entire European Financial Stability Facility (EFSF) fund. A historical parallel – to 1931 when Germany was burdened with debt, unemployment and austerity while France and
4575-546: The stock exchanges in Paris , Zurich , Madrid , Brussels , Amsterdam , and Milan signed a memorandum of understanding in Madrid, which formalised plans to include these bourses as well. Ultimately, only three decided to proceed, and on 22 September 2000 Euronext was formed following a merger of the Amsterdam Stock Exchange , Brussels Stock Exchange , and Paris Bourse . In 2001, Euronext became
SECTION 60
#17327796701684650-474: The successor to the European Currency Unit (ECU). The notes and coins for the old currencies, however, continued to be used as legal tender until new euro notes and coins were introduced on 1 January 2002. The changeover period during which the former currencies' notes and coins were exchanged for those of the euro lasted about two months, until 28 February 2002. The official date on which
4725-403: The technology sector. EnterNext partnered with Morningstar to increase equity research focusing on mid-size companies, especially in the telecommunications, media and technology (TMT) sector. On 22 September 2014, Euronext announced a partnership with DEGIRO regarding the distribution of retail services of Euronext. Upon publishing the third quarter results for 2014, the partnership was seen as
4800-481: The transaction with 98.2% of the vote. Only 1.8% voted in favour of the Deutsche Börse offer. Jean-François Théodore , the chief executive officer of Euronext, stated that they expected the transaction to close within three or four months. Some of the regulatory agencies with jurisdiction over the merger had already given approval. NYSE Group shareholders gave their approval on 20 December 2006. The merger
4875-471: The two exchanges hoped to add Borsa Italiana (the Milan stock exchange) into the grouping. In 2008 and 2009 Deutsche Börse made two unsuccessful attempts to merge with NYSE Euronext. Both attempts did not enter into advanced steps of merger. In 2011, Deutsche Börse and NYSE Euronext confirmed that they were in advanced merger talks. Such a merger would create the largest exchange in history. The deal
4950-472: The world after the United States dollar . As of December 2019, with more than €1.3 trillion in circulation, the euro has one of the highest combined values of banknotes and coins in circulation in the world. The name euro was officially adopted on 16 December 1995 in Madrid . The euro was introduced to world financial markets as an accounting currency on 1 January 1999, replacing
5025-705: The world's first bourses, formed in the Low Countries ' shifting trade centres, Bruges , Antwerp and Amsterdam in 1285, 1485 and 1602, respectively, as well as to the foundation of the Paris Bourse in 1724. In its present form, Euronext was established in September 2000 through the merger of the bourses in Amsterdam, Brussels and Paris. The goal was to create a single, integrated, and liquid market for securities trading across Europe. Since its inception, Euronext has continued to expand, and now operates stock exchanges in several European countries, including France,
5100-689: The world. Euronext's product range also includes exchange-traded funds . Euronext provides custody and settlement services through its central securities depository (CSD), Euronext Securities , based on Euronext's ownership of previous national CSDs in Denmark, Italy, Norway and Portugal. Between 2016 and 2019 Euronext owned a 20% share in European Central Counterparty N.V. (EuroCCP). As of December 2019, Euronext owns an 11.1% share in LCH SA . As part of its acquisition of
5175-433: The €500 with issuance discontinued as of 27 April 2019. However, both the first and the second series of euro banknotes, including the €500, remain legal tender throughout the euro area. In December 2021, the ECB announced its plans to redesign euro banknotes by 2024. A theme advisory group, made up of one member from each euro area country, was selected to submit theme proposals to the ECB. The proposals will be voted on by
5250-560: Was already two years old. While the conversion rates for the initial eleven currencies were determined only hours before the euro was introduced, the conversion rate for the Greek drachma was fixed several months beforehand. The currency was introduced in non-physical form ( traveller's cheques , electronic transfers, banking, etc.) at midnight on 1 January 1999, when the national currencies of participating countries (the eurozone) ceased to exist independently. Their exchange rates were locked at fixed rates against each other. The euro thus became
5325-503: Was an accounting unit used by the EU, based on the currencies of the member states; it was not a currency in its own right. They could not be set earlier, because the ECU depended on the closing exchange rate of the non-euro currencies (principally pound sterling ) that day. The procedure used to fix the conversion rate between the Greek drachma and the euro was different since the euro by then
5400-482: Was approved by shareholders of NYSE Euronext on 7 July 2011, and Deutsche Börse on 15 July 2011 and won the antitrust approved by the US regulators on 22 December 2011. On 1 February 2012, the deal was blocked by European Commission on the grounds that the new company would have resulted in a quasi-monopoly in the area of European financial derivatives traded globally on exchanges. Deutsche Börse unsuccessfully appealed this decision. In 2012, Euronext announced
5475-485: Was completed on 4 April 2007, forming NYSE Euronext . The new firm, NYSE Euronext , was headquartered in New York City, with European operations and its trading platform run out of Paris. Then-NYSE CEO John Thain , who was to head NYSE Euronext, intended to use the combination to form the world's first global stock market, with continuous trading of stocks and derivatives over a 21-hour time span. In addition,
5550-429: Was coordinating heavily with European counterparts) was positive, with an expected approval by the end of 2007. Deutsche Börse dropped out of the bidding for Euronext on 15 November 2006, removing the last major hurdle for the NYSE Euronext transaction. A run-up of NYSE Group's stock price in late 2006 made the offering far more attractive to Euronext's shareholders. On 19 December 2006, Euronext shareholders approved
5625-510: Was created by the Austrian designer Robert Kalina . Notes are issued in €500 , €200 , €100 , €50 , €20 , €10 , and €5 . Each banknote has its own colour and is dedicated to an artistic period of European architecture. The front of the note features windows or gateways while the back has bridges, symbolising links between states in the union and with the future. While the designs are supposed to be devoid of any identifiable characteristics,
#167832