Euronext has flourished as an independent exchange group since 2014 and has just fleshed out a new strategy taking it up to 2019. But one important question remains: how will its derivatives trades be cleared once a key contract runs out in 2018?

As one of the only European exchanges without its own dedicated clearing house, Euronext relies instead on LCH.Clearnet SA - the French arm of the clearer controlled by the London Stock Exchange Group - for both equities and derivatives clearing.