Update: Following an earlier suspension of trading this morning ahead of a decision from the District Court of Rotterdam, Euronext decided to resume its shares trading. A verdict has been given, which moved in favor of Euronext, in essence ruling that the new capital requirements imposed in a June 2014 license no longer apply and that the applicable license is the one of March 2014.
The full verdict can be read by accessing the following link.
(December 17, 13:42): Thursday was anything other than business as usual at Euronext, Europe’s largest exchange, after trading was suspended as of 9:00am CET this morning, according to a Euronext statement.
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The suspension in trading of Euronext shares was a precautionary action ahead of a verdict yet to be determined by the District Court of Rotterdam. More specifically, this entailed an appeal procedure between Euronext N.V. and Euronext Amsterdam N.V. and the Dutch Minister of Finance, which is related to consolidated capital requirements.
Euronext has opted for a cessation of trading in the meantime, however it is unclear when a decision will be levied from the District Court, or if this will be the final decision on the matter – at which point trading would presumably be resumed. Finance Magnates will have more on this situation as it develops.
Last week, Euronext made headlines in a more positive way, after it joined the United Nations’ (UN) Sustainable Stock Exchanges (SSE) initiative, which is a long-term approach to transparent investing opportunities. The UN’s SSE initiative is designed to enhance and facilitate the relationship between exchanges and investors, together with regulatory authorities and companies across a variety of initiatives, i.e. Environmental, Social and Corporate Governance (ESG) issues.