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Euronext signs agreement on UTP implementation with four MENA exchanges

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UNDERLINING SUCCESS OF UTP MODEL

Paris – 18th March 2014 – Euronext, a wholly owned subsidiary of IntercontinentalExchange Group (NYSE: ICE), today announced that it has successfully signed agreements with four exchanges in the Middle East and North Africa (MENA) region for the implementation of its new UTP solution, UTP-Hybrid. 

The four exchanges, the Amman Stock Exchange, the Beirut Stock Exchange, Bourse des valeurs Mobilieres de Tunis and the Muscat Securities Market, all long-standing and valued clients of Euronext, will benefit from customization, project delivery and ten years of support. The project will include the replacement of the NSC® trading platform, support for which will be discontinued from a commercial perspective in 2015. 

The MENA region has an increasingly sophisticated financial markets industry with exchanges looking for a cost-effective, high performance platform to support growth in equities or entry into new asset classes. UTP is a multi-asset class, multi-currency trading platform providing complex functions for low-latency markets. It is the core technology that Euronext uses to operate its single order book model throughout Europe. This agreement provides these four exchanges with the benefits of Euronext’s investment in UTP packaged into a low risk, high-performance solution with a long term support commitment. In this way, UTP-Hybrid meets the cost-effectiveness needs of smaller exchanges while still offering the liquidity generating functions needed for their future growth in equity and derivative markets. 

Dominique Cerutti, Chief Executive Officer of Euronext, said, “This is an important development for Euronext and demonstrates our commitment to a strategic relationship with these four exchanges. Using technology to bring MENA markets closer together helps promote the region and generate growth in its local economies. We look forward to working with our clients on business and technology initiatives that will build closer ties with European investors and help develop markets in the MENA region.”

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About Euronext 
Euronext is the leading European capital market infrastructure, covering the entire capital markets value chain, from listing, trading, clearing, settlement and custody, to solutions for issuers and investors. Euronext runs MTS, one of Europe’s leading electronic fixed income trading markets, and Nord Pool, the European power market. Euronext also provides clearing and settlement services through Euronext Clearing and its Euronext Securities CSDs in Denmark, Italy, Norway, and Portugal. As of December 2024, Euronext’s regulated exchanges in Belgium, France, Ireland, Italy, the Netherlands, Norway, and Portugal host over 1,800 listed issuers with around €6 trillion in market capitalisation, a strong blue-chip franchise and the largest global centre for debt and fund listings. With a diverse domestic and international client base, Euronext handles 25% of European lit equity trading. Its products include equities, FX, ETFs, bonds, derivatives, commodities and indices. 
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Disclaimer
This press release is for information purposes only and is not a recommendation to engage in investment activities. This press release is provided “as is” without representation or warranty of any kind. While all reasonable care has been taken to ensure the accuracy of the content, Euronext does not guarantee its accuracy or completeness. Euronext will not be held liable for any loss or damages of any nature ensuing from using, trusting or acting on information provided. No information set out or referred to in this publication may be regarded as creating any right or obligation. The creation of rights and obligations in respect of financial products that are traded on the exchanges operated by Euronext’s subsidiaries shall depend solely on the applicable rules of the market operator. All proprietary rights and interest in or connected with this publication shall vest in Euronext.

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