Driving Tax Services Strategy at Euronext Securities
In our last newsletter, we shared updates on the integration of Acupay and BondCom into Euronext Securities following the acquisition by Euronext.
Now, as part of Euronext’s ambitious "Innovate for Growth" strategy for the next three years, the focus is on expanding and strengthening services to support growth and attaining the goal of the Capital Markets Union. This strategy is built on three pillars: innovation, diversification, and operational excellence, reinforcing Euronext’s role as a leading capital markets infrastructure provider in Europe.
A key element of this strategy is positioning Euronext Securities as the central securities depository (CSD) of choice for European capital markets. This includes enhancing and harmonizing services, particularly tax solutions for investors and issuers. Acupay will play a critical role in this ambition by providing advanced technology, robust operational capabilities, and deep market expertise.
Expanding Tax Services for Investors and Issuers
Euronext Securities already offers a broad range of tax solutions, including:
Annual and monthly tax reporting
FATCA and CRS reporting
Financial transaction tax
Tax intelligence and advisory services
Meanwhile, Acupay specializes in technology providing broad solutions related to global:
Tax relief at source
Tax reclaim services
Tax compliance on cross-border bonds
Together, these services enable seamless market access for issuers while simplifying tax processes for custodians and investors.
The Five Pillars of Euronext Securities Tax Strategy
We are pleased to introduce our new tax strategy, collaboratively developed by the Euronext Securities and Acupay teams. This strategy is built on five key pillars that will drive the expansion and enhancement of tax services:
CSD Convergence – Modernizing legacy systems and unifying the tax product portfolio across markets.
European Expansion – Attracting equity issuance from Belgium, France, and the Netherlands by developing the necessary tax services.
Global Market Access – Replicating the success of Italy’s Yankee bond and ADR programs by creating new cross-border tax solutions for issuers.
Legislative & Market Alignment – Adapting to regulatory changes, such as the EU’s FASTER Directive, to improve withholding tax procedures while ensuring compliance and service enhancement.
Tax Relief for Investors – Integrating the first four pillars to streamline cross-border tax relief and recovery, ensuring investors receive their full entitlements efficiently.
These five pillars reinforce our commitment to harmonizing tax services across Europe. Our goal is to streamline back-office tax processes, removing barriers that investors encounter when accessing European capital markets.
The Role of Acupay and BondCom
Acupay will be central to these efforts by providing end-to-end tax management solutions—from beneficial owner profiling and document management to tax computation and status reporting.
It will also leverage BondCom’s expertise in identifying bondholders and executing liability management exercises, including tender offers, exchange offers, buybacks, and consent solicitations.
Our Key Initiatives
Unified Tax Services: Deliver tax services on a single corporate actions platform at Euronext Securities.
EU FASTER Compliance: Develop solutions to help financial firms meet the requirements of the EU FASTER directive.
Investor Tax Relief: Enable efficient tax relief for investors who use Euronext Securities for the custody of their equities, bonds, and ETFs.
Issuer Support: Assist issuers in France, Belgium, and the Netherlands with tax compliance on equity issued through Euronext Securities and traded on its exchanges.
By leveraging the combined expertise and innovative technology of Acupay and BondCom, Euronext Securities will simplify and enhance tax services—supporting issuers, custodians and investors while driving growth across European capital markets.