Intercontinental Exchange (ICE) has sold its 9.85% stake in clearing and settlement platform Euroclear to Silver Lake for €709 million.
Brussels-based Euroclear provides post-trade security settlement, custody, collateral management, fund management and data services with €35.2 trillion of assets under custody and 284 million netted transactions settled in the 12 months ended June 2021.
Christian Lucas, co-head, Silver Lake Emea, says: “We are thrilled to become a shareholder of Euroclear. We have been highly impressed by the company’s achievements over the years, continuously strengthening Euroclear’s positioning as a global leader in vital post-trade, collateral management, fund management and data services as well as the company’s crucial importance overall to the efficient functioning of financial markets in Europe and around the world.”