Euronext Agrees Deal to Buy Nasdaq’s Nordic Power Futures Business

The companies have signed a binding agreement. The move marks a notable step in the firm expanding its footprint in the European power market. 

Euronext added that the acquisition aligns with its “Innovate for Growth 2027” strategy.

The acquisition will see existing open positions in Nasdaq’s Nordic power derivatives transferred to Euronext Clearing, with trading of power futures to be operated from Euronext Amsterdam. 

Notably, Nasdaq will retain its European Markets Services business and multi-asset clearinghouse. Nasdaq Clearing AB, Nasdaq Oslo ASA, and their respective infrastructure are not included in the sale.

Euronext plans to integrate Nasdaq’s Nordic power futures with its Nord Pool power market initiative, furthering its ambition to establish a long-standing and liquid power futures market for the Nordic and Baltic regions. 

Camille Beudin, Euronext’s Head of Diversified Services, said: “The acquisition of Nasdaq’s Nordic power futures is a major accelerator for our power futures ambition and positions Euronext as a leading player for trading and hedging of power in Europe.”

The transition will occur over the next two years, with client testing for Euronext’s new power futures platform beginning in March 2025 and a planned go-live in June 2025. Nasdaq will operate the business until the migration is completed in 2026, after which it will exit the commodities market.

Financial terms of the transaction were not disclosed.