Requirements for Trading Members

Eligibility

Membership is permitted for Investment Firms and Credit Institutions authorized in the European Economic Area (EEA), and for Non-MiFID Firms (firms without the right to a MiFID license, including firms established within a Member State of the EEA but excluded from the scope of MiFID), and firms from a third country, whether or not authorized. Individual persons and sole proprietorships are only eligible for derivatives markets.

Applications are only considered in respect of firms located in jurisdictions with satisfactory regulatory arrangements.

Capacity

Membership capacities are determined by the scope of the member’s authorization, license or permission from the relevant competent authority. Members may trade as agency (broker), which entitles them to trade exclusively for third parties including other members, or as principal (dealer), which entitles them to trade exclusively for their own accounts. It is also possible to combine both capacities. To act as a market maker/liquidity provider, please note that a license may be required.

Clearing and Settlement

Appropriate clearing and settlement arrangements are required, as defined in the Euronext Rule Book. The Onboarding and Client Administration team is available to assist with this procedure.

Connectivity

Firms may connect to our markets in a number of different ways—e.g., directly or through an application service provider (ASP).