Dez anos desde a Oferta Pública Inicial da Euronext

Euronext successfully expanded its clearing offering, on schedule, to the cash markets in France, Ireland, the Netherlands, and Portugal on 27 November 2023. As of that date, the pan-European clearing house Euronext Clearing now clears equities, ETFs, structured products, warrants, and bonds across six Euronext markets¹. On average, Euronext Clearing clears circa 2 million transactions on a daily basis for its 52 European and local clearing members, of which 37 were onboarded as part of the expansion, including all major clearing members of the industry. This successful migration establishes Euronext Clearing as the Central Counterparty (CCP) of choice for Euronext’s cash markets, which process around 25% of European cash trading. This transformation contributes significantly to building the backbone of the Capital Markets Union in Europe, reducing the fragmentation of European capital markets.

This major step paves the way for the expansion of Euronext Clearing activities to Euronext’s listed and commodity derivatives in Q3 2024. The addition of material post-trade capabilities puts Euronext at the forefront of the financial landscape, with a unique and meaningful presence across the entire value chain, ideally positioned to capture future growth opportunities.

Opening up the markets to a new set of Italian instruments

When Euronext’s Fixed Income, Warrants and Certificates markets opened for trading on Monday 11 September 2023, the range of instruments on offer had expanded, with over 32,500 Italian fixed income, warrants and certificates now available for trading on the Optiq trading platform. This marks a major milestone in the journey to integrating all Borsa Italiana markets into the Euronext Optiq^® platform, as the Italian cash markets are all now live, and another key step in building the backbone of the Capital Markets Union in Europe.

Bonds, certificates and warrants

This phase of the migration brought across Borsa Italiana’s three fixed income markets: MOT, the regulated market designed to facilitate access to the bond market for private investors; Euronext Access Milan (formerly ExtraMOT), a multilateral trading facility (MTF) for professional investors that offers trading in bonds listed in other EU markets as well as Italian bonds, particularly those issued by SMEs; and EuroTLX, another MTF targeted specifically to non-professional and professional investors trading in retail-size fixed income securities.

Also included in the scope was the Borsa Italiana SeDeX market, for retail investors trading certificates and covered warrants, collectively known as securitised derivatives products (hence the name SeDeX). The Italian secondary market is one of the most active in Europe for these financial instruments.

The Euronext Foundation aims to foster Euronext's support of local sustainable communities and projects across Europe in the fields of financial literacy, diversity and inclusion in finance, and marine resources.

It acts as an umbrella encompassing Euronext’s philanthropic and educational support via dedicated funding and volunteering initiatives to empower young people, promote sustainability, and strengthen our connections with local communities.

In March 2023, Euronext proudly signed the Women’s Empowerment Principles, a roadmap for business sustainability, innovation, and productivity.

By signing these principles, which result from a collaboration between the UN Global Compact and UN Women, Euronext is committing to the corporate delivery on gender equality dimensions of the 2030 agenda and the United Nations Sustainable Development Goals, while working collaboratively in multistakeholder networks to foster business practices that empower women.

By signing the Principles, Euronext aims to become an inspiration for others in its industry, by encouraging business leaders to join this movement, so that together we shape capital markets for future generations.

• Phase one of the full migration to Euronext’s state-of-the art trading platform was delivered on schedule, with immediate revenue synergies
• Euronext confirms its position as the leading listing and trading venue, and the largest liquidity pool in Europe with superior market quality
• This migration brings significant benefits to Italian issuers, members, investors and to the European financial markets ecosystem, helping finance the real economy

In 9 February 2023, Euronext’s upgraded SBTi-aligned climate targets were validated by the Science-Based Targets initiative:

• By 2030, Euronext will reduce its Scope 1 and Scope 2 market-based greenhouse gas emissions by 73.5% compared to 2020; (Up from 70% previously announced in June 2022)
• By 2030, Euronext will reduce its Scope 3 business travel emissions by at least 46.2% compared to 2019;
• By 2027, Euronext suppliers, representing 72% of Euronext’s greenhouse gas emissions derived from purchased goods and services, must set targets on their Scope 1 and Scope 2 emissions. (Up from 67% previously announced in June 2022)

Euronext Tech Leaders is Euronext's initiative dedicated to highlighting the visibility and attractiveness of high-growth and leading Tech companies towards international investors, together with a suite of services to support them along their listing journey. 

Euronext’s rich Tech ecosystem brings together 700+ Tech companies listed on Euronext markets with 900+ alumni of its pre-IPO programmes and a large international investor base financing all growth profiles of Tech companies.

Euronext Tech Leaders is composed of 120+ high-growth and leading companies, each meeting a specific set of criteria to qualify. It complements Euronext's existing Tech offer and aims to strengthen the European Tech sector and be a catalyst for the next generation of Tech leaders.

Relocating Euronext’s Core Data Centre from the UK to Italy, into a best-in-class and green data centre facility, was a strategic decision made in response to multiple factors, including the dynamic created by Brexit, and a strong rationale for relocating Euronext’s core European trading activities in the European Union. This move allows Euronext to fully control and directly manage its core IT infrastructure, as well as a key service to clients, colocation, which was previously outsourced. It also allows the generation of colocation revenues, embedded in the upgraded synergies.

The Aruba Global Cloud Data Centre meets the highest quality standards (rating 4 certification), provides the maximum level of safety and resilience, and is 100% powered by renewable energy, enabling Euronext to minimise its environmental impact.

Euronext now operates a state-of-the-art colocation facility available to both members and non-members, opening up new opportunities for development of services, and contributing as of today to a part of the planned delivery of the €100 million run-rate annual EBITDA synergies related to the Borsa Italiana Group acquisition targeted for 2024.

The Core Data Centre migration has been timed in order to pave the way for the migration of the Borsa Italiana equity and derivatives markets onto the Euronext Optiq^® trading platform as soon as 2023.

In November 2021, we launched Euronext Securities, the CSD network connecting European economies to global capital markets. With CSDs in Copenhagen, Milan, Oslo and Porto and assets under custody totaling more than €6.5 trillion, Euronext Securities is one of the largest CSD operators in Europe.

Our new strategic plan, “Growth for Impact 2024”, sets out the group's ambition to build the leading market infrastructure in Europe.  

Growth for Impact 2024 is built around five strategic priorities: Leverage our integrated value chain, Pan-Europeanise our CSDs, Build upon our leadership in Europe, Empower sustainable finance and Execute value-creative M&A. 

Stéphane Boujnah, Chief Executive Officer and Chairman of the Managing Board of Euronext said: “Today marks a new chapter in the history of Euronext and of European capital markets. With the completion of the acquisition of the Borsa Italiana Group, Euronext delivers on its ambition to build the leading pan-European market infrastructure, connecting local economies to global capital markets, for the benefits of all market participants across Euronext’s markets. The significantly scaled-up Group is now positioned as the leading venue in Europe for listing and secondary markets for both debt and equity financing. In addition, Euronext increases its business diversification with new capabilities in fixed income trading and clearing, as well as consolidation of a significant CSD. This transaction strengthens Euronext’s profile and enhances its strategic prospects for future growth."

In August 2020, Euronext announced that it had completed the settlement of shares under its offer launched on 23 April 2020 to acquire 100% of VP Securities, the Danish Central Securities Depository. 

Euronext acquires Oslo Børs VPS, the Norwegian stock exchange and the Norwegian CSD, which became the Group’s central exchange in the Nordic region and one of its seven core markets. Euronext further expands its footprint and diversifies its activities in post-trade.

In July 2015, Euronext launched TechShare, a pre-IPO programme designed to help Tech entrepreneurs familiarise themselves with capital markets while promoting networking by connecting Tech entrepreneurs and capital markets advisors.

Following the November 2013 acquisition of NYSE Euronext, ICE keeps LIFFE and spins off the continental European operations by launching a public offering for a newly formed, independent Euronext N.V. in June 2014.