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Listing all Central Counterparties (CCPs) and Central Securities Depositories (CSDs) in the EU market with their respective gross revenues is challenging due to the following reasons:
* Data Availability: Revenue information for individual financial market infrastructure providers is not always publicly disclosed or easily accessible. It is often part of broader financial reports of parent companies or private data.
* Fluctuations: Gross revenues can vary significantly from year to year based on market activity, trading volumes, and other factors.
* Defining “EU Market”: This could refer to entities authorized within the EU, or those with significant operations serving EU clients, regardless of their headquarters.
However, I can provide a list of the prominent CCPs and CSDs authorized in the EU based on available information and link them to their parent companies where revenue information might be found in their consolidated reports.
Prominent CCPs in the EU Market (as of March 2025):
* Eurex Clearing AG (Germany) – Part of Deutsche Börse Group.
* LCH SA (France) – Part of London Stock Exchange Group (LSEG).
* Cassa di Compensazione e Garanzia S.p.A. (CCG) / Euronext Clearing (Italy/Netherlands/Belgium/France/Portugal/Norway/Denmark) – Part of Euronext.
* European Commodity Clearing (ECC) (Germany) – Part of Deutsche Börse Group.
* Nasdaq Clearing AB (Sweden) – Part of Nasdaq, Inc.
* BME Clearing (Spain) – Part of SIX Group.
* KDPW CCP S.A. (Poland) – Part of Grupa KDPW.
* CCP Austria Abwicklungsstelle für Börsengeschäfte GmbH (CCP.A) (Austria).
* Athex Clear (Greece) – Part of Hellenic Exchanges – Athens Stock Exchange S.A.
* KELER CCP (Hungary) – Part of KELER Group.
* Cboe Clear Europe B.V. (Netherlands) – Part of Cboe Global Markets.
* ICE Clear Europe Limited (Netherlands) – Part of Intercontinental Exchange (ICE). Note: While this was an authorized EU CCP, it ceased to be on Brexit day. Its current prominence in the EU market might be reduced.
* SIX x-clear AG (Switzerland) – While based in Switzerland, it provides services in the EU.
Prominent CSDs in the EU Market (Members of ECSDA as of May 2025):
* OeKB CSD (Austria).
* Euroclear Bank (Belgium) – Provides services for cross-border transactions.
* Euroclear Belgium (Belgium) – Focuses on the Belgian market.
* Central Depository AD (CDAD) (Bulgaria).
* Central Depository & Clearing Company Inc. (SKDD) (Croatia).
* Cyprus Stock Exchange (CSE) (Cyprus).
* Central Securities Depository Prague (CSD Prague) (Czech Republic).
* Euronext Securities Copenhagen (VP Securities) (Denmark) – Part of Euronext.
* Euroclear Finland (Finland).
* Euroclear France (France).
* Clearstream Banking AG (Germany) – Part of Deutsche Börse Group.
* ATHEXCSD (Greece) – Part of Hellenic Exchanges – Athens Stock Exchange S.A.
* KELER Ltd (Hungary) – Part of KELER Group.
* Euronext Securities Milan (Monte Titoli) (Italy) – Part of Euronext.
* Nasdaq CSD SE (Latvia) – Part of Nasdaq, Inc. (covers Estonia, Iceland, Latvia, Lithuania).
* Clearstream Banking S.A. (CBL) (Luxembourg) – Part of Deutsche Börse Group.
* LuxCSD (Luxembourg).
* Malta Stock Exchange (MSE) (Malta).
* Single Central Securities Depository (DCU) (Moldova) – Note: Moldova is not an EU member state.
* CSD&CC – Montenegro (Montenegro) – Note: Montenegro is not an EU member state.
* Euroclear Nederland (Netherlands).
* Euronext Securities Oslo (VPS) (Norway) – Part of Euronext. Note: Norway is not an EU member state.
* The Central Securities Depository of Poland (KDPW) (Poland) – Part of Grupa KDPW.
* Euronext Securities Porto (Interbolsa) (Portugal) – Part of Euronext.
* Depozitarul Central (Romania).
* Central Securities Depository of the Slovak Republic (CDCP SR) (Slovakia).
* KDD Central Securities Clearing Corporation (KDD) (Slovenia).
* Iberclear (Spain) – Part of SIX Group.
* Euroclear Sweden (Sweden).
* SIX SIS Ltd (Switzerland) – While based in Switzerland, it provides services in the EU.
* Euroclear UK & International (United Kingdom) – Part of Euroclear. Note: The UK is no longer an EU member state.
Where to Potentially Find Revenue Information:
To find revenue information, you would typically need to look at the consolidated financial reports of the parent companies of these CCPs and CSDs, such as:
* Deutsche Börse Group: For Eurex Clearing and Clearstream.
* London Stock Exchange Group (LSEG): For LCH SA.
* Euronext: For Euronext Clearing and the Euronext Securities CSDs.
* Nasdaq, Inc.: For Nasdaq Clearing and Nasdaq CSD.
* SIX Group: For BME Clearing and Iberclear.
* Grupa KDPW: For KDPW CCP and KDPW.
Keep in mind that the reported revenue might not be broken down specifically for each subsidiary or business line within these large groups.
This list provides a comprehensive overview of the significant CCPs and CSDs operating in the EU market as of the current date. For specific revenue figures, consulting the financial reports of their parent companies would be necessary.

Video courtesy of Interactive Brokers

Video courtesy of Interactive Brokers