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Euronext N.V. (short for European New Exchange Technology) is a pan-European bourse that offers various trading and post-trade services. Traded assets include regulated
equities In finance, stock (also capital stock) consists of all the shares by which ownership of a corporation or company is divided.Longman Business English Dictionary: "stock - ''especially AmE'' one of the shares into which ownership of a company ...
,
exchange-traded fund An exchange-traded fund (ETF) is a type of investment fund and exchange-traded product, i.e. they are traded on stock exchanges. ETFs are similar in many ways to mutual funds, except that ETFs are bought and sold from other owners throughout the ...
s (ETF), warrants and certificates,
bond Bond or bonds may refer to: Common meanings * Bond (finance), a type of debt security * Bail bond, a commercial third-party guarantor of surety bonds in the United States * Chemical bond, the attraction of atoms, ions or molecules to form chemical ...
s,
derivative In mathematics, the derivative of a function of a real variable measures the sensitivity to change of the function value (output value) with respect to a change in its argument (input value). Derivatives are a fundamental tool of calculus. F ...
s,
commodities In economics, a commodity is an economic good, usually a resource, that has full or substantial fungibility: that is, the market treats instances of the good as equivalent or nearly so with no regard to who produced them. The price of a comm ...
,
foreign exchange The foreign exchange market (Forex, FX, or currency market) is a global decentralized or over-the-counter (OTC) market for the trading of currencies. This market determines foreign exchange rates for every currency. It includes all as ...
as well as indices. In December 2021, it had nearly 2,000 listed issuers worth €6.9 trillion in market capitalisation. Euronext is the largest center for debt and funds listings in the world, and provides technology and managed services to third parties. In addition to its main regulated market, it operates
Euronext Growth Euronext Growth is a multilateral trading facility (MTF) operated by Euronext. This equity trading market that was opened May 17, 2005 to address an opportunity posed by small to medium-sized firms that were anticipated to desire easier access t ...
and
Euronext Access Euronext N.V. (short for European New Exchange Technology) is a pan-European Exchange (organized market), bourse that offers various trading and post-trade services. Traded assets include regulated equities, exchange-traded funds (ETF), warrants ...
, providing access to listing for
small and medium-sized enterprises Small and medium-sized enterprises (SMEs) or small and medium-sized businesses (SMBs) are businesses whose personnel and revenue numbers fall below certain limits. The abbreviation "SME" is used by international organizations such as the World Bank ...
. Euronext's commodity market includes the
electric power Electric power is the rate at which electrical energy is transferred by an electric circuit. The SI unit of power is the watt, one joule per second. Standard prefixes apply to watts as with other SI units: thousands, millions and billions o ...
exchange Exchange may refer to: Physics *Gas exchange is the movement of oxygen and carbon dioxide molecules from a region of higher concentration to a region of lower concentration. Places United States * Exchange, Indiana, an unincorporated community * ...
Nord Pool Nord Pool AS is a pan-European power exchange. Nord Pool has a main office in Oslo and further offices in Stockholm, Helsinki, Tallinn, Berlin and London. The company is owned by the European exchange operator Euronext as well as TSO Holding, ...
, as well as
Fish Pool Fish Pool is an international commodity exchange located in Bergen, Norway that trades salmon futures contracts. The exchange is 97% owned by the stock exchange in Norway Oslo Børs. Trading at Fish Pool commenced in May 2006. The volumes traded ...
. Post-trade services include clearing performed by Euronext's multi-asset
clearing house Clearing house or Clearinghouse may refer to: Banking and finance * Clearing house (finance) * Automated clearing house * ACH Network, an electronic network for financial transactions in the U.S. * Bankers' clearing house * Cheque clearing * Cl ...
, Euronext Clearing, as well as custody and settlement performed by Euronext's
central securities depository A central securities depository (CSD) is a specialized financial organization holding securities like shares, either in certificated or uncertificated ( dematerialized) form, allowing ownership to be easily transferred through a book entry rather t ...
(CSD),
Euronext Securities Euronext N.V. (short for European New Exchange Technology) is a pan-European bourse that offers various trading and post-trade services. Traded assets include regulated equities, exchange-traded funds (ETF), warrants and certificates, bonds, de ...
. Euronext's
registered office A registered office is the official address of an incorporated company, association or any other legal entity. Generally it will form part of the public record and is required in most countries where the registered organization or legal entity ...
and
corporate headquarters Corporate headquarters is the part of a corporate structure that deals with important tasks such as strategic planning, corporate communications, taxes, law, books of record, marketing, finance, human resources, and information technology. Corpor ...
are situated in
Amsterdam Amsterdam ( , , , lit. ''The Dam on the River Amstel'') is the Capital of the Netherlands, capital and Municipalities of the Netherlands, most populous city of the Netherlands, with The Hague being the seat of government. It has a population ...
and
Paris Paris () is the capital and most populous city of France, with an estimated population of 2,165,423 residents in 2019 in an area of more than 105 km² (41 sq mi), making it the 30th most densely populated city in the world in 2020. S ...
, respectively. Euronext traces its origins back to the world's first bourses, formed in the
Low Countries The term Low Countries, also known as the Low Lands ( nl, de Lage Landen, french: les Pays-Bas, lb, déi Niddereg Lännereien) and historically called the Netherlands ( nl, de Nederlanden), Flanders, or Belgica, is a coastal lowland region in N ...
' shifting trade centres: Bruge,
Antwerp Antwerp (; nl, Antwerpen ; french: Anvers ; es, Amberes) is the largest city in Belgium by area at and the capital of Antwerp Province in the Flemish Region. With a population of 520,504,
and Amsterdam in 1285, 1485 and 1602, respectively. In its present form, Euronext was founded by the merger of European Union (EU) stock exchanges at the turn of the 21st century, following the introduction of the
single currency A currency union (also known as monetary union) is an intergovernmental agreement that involves two or more states sharing the same currency. These states may not necessarily have any further integration (such as an economic and monetary union, ...
and harmonisation of financial markets. The present day Euronext was spun off from the
Intercontinental Exchange Intercontinental Exchange, Inc. (ICE) is an American company formed in 2000 that operates global financial exchanges and clearing houses and provides mortgage technology, data and listing services. Listed on the Fortune 500, S&P 500, and Russell ...
(ICE) in 2014, shortly after ICE's acquisition of NYSE Euronext the year before.


Operations


Trading services


Equity

Euronext operates its main regulated market, as well two types of multilateral trading facilities (MTFs) providing access to listing for
small and medium-sized enterprises Small and medium-sized enterprises (SMEs) or small and medium-sized businesses (SMBs) are businesses whose personnel and revenue numbers fall below certain limits. The abbreviation "SME" is used by international organizations such as the World Bank ...
(SMEs), titled ''
Euronext Growth Euronext Growth is a multilateral trading facility (MTF) operated by Euronext. This equity trading market that was opened May 17, 2005 to address an opportunity posed by small to medium-sized firms that were anticipated to desire easier access t ...
and
Euronext Access Euronext N.V. (short for European New Exchange Technology) is a pan-European Exchange (organized market), bourse that offers various trading and post-trade services. Traded assets include regulated equities, exchange-traded funds (ETF), warrants ...
''. Euronext maintains a single order book at its proprietary market plattform ''Optiq''. Euronext manages various country (national), as well as pan-European regional and sector and strategy indices.


Foreign exchange

''Euronext FX'' is a global
foreign exchange trading The foreign exchange market (Forex, FX, or currency market) is a global decentralized or over-the-counter (OTC) market for the trading of currencies. This market determines foreign exchange rates for every currency. It includes all asp ...
platform, known as ''FastMatch'' until 2019.


Commodities

Euronext offers trading in a number of commodities, including: * Electric power: ''
Nord Pool Nord Pool AS is a pan-European power exchange. Nord Pool has a main office in Oslo and further offices in Stockholm, Helsinki, Tallinn, Berlin and London. The company is owned by the European exchange operator Euronext as well as TSO Holding, ...
'' * Salmon futures: ''
Fish Pool Fish Pool is an international commodity exchange located in Bergen, Norway that trades salmon futures contracts. The exchange is 97% owned by the stock exchange in Norway Oslo Børs. Trading at Fish Pool commenced in May 2006. The volumes traded ...
'' * Milling wheat * Rapeseed * Corn * Durum wheat * Wood pellets


Derivatives

Euronext operates
derivative In mathematics, the derivative of a function of a real variable measures the sensitivity to change of the function value (output value) with respect to a change in its argument (input value). Derivatives are a fundamental tool of calculus. F ...
s markets.


Debt and funds listings

Euronext is the largest centre for debt and funds listings in the world.


Exchange-traded funds

Euronext's product range also includes
exchange-traded fund An exchange-traded fund (ETF) is a type of investment fund and exchange-traded product, i.e. they are traded on stock exchanges. ETFs are similar in many ways to mutual funds, except that ETFs are bought and sold from other owners throughout the ...
s.


Warrants and certificates


Bonds


Post-trade services


Central securities depository

Euronext provides custody and settlement services through its
central securities depository A central securities depository (CSD) is a specialized financial organization holding securities like shares, either in certificated or uncertificated ( dematerialized) form, allowing ownership to be easily transferred through a book entry rather t ...
(CSD),
Euronext Securities Euronext N.V. (short for European New Exchange Technology) is a pan-European bourse that offers various trading and post-trade services. Traded assets include regulated equities, exchange-traded funds (ETF), warrants and certificates, bonds, de ...
, based on Euronext's ownership of previous national CSDs in Denmark, Italy, Norway and Portugal.


Clearing

Between 2016 and 2019 Euronext owned a 20% share in European Central Counterparty N.V. (EuroCCP). As of December 2019, Euronext owns an 11.1% share in LCH SA. As part of its acquisition of the
Italian Bourse Borsa Italiana, based in Milan, is the Italian stock exchange. It manages and organises domestic market, regulating procedures for admission and listing of companies and intermediaries and supervising disclosures for listed companies.italy24.il ...
in 2021, Euronext obtained the multi-asset
clearing house Clearing house or Clearinghouse may refer to: Banking and finance * Clearing house (finance) * Automated clearing house * ACH Network, an electronic network for financial transactions in the U.S. * Bankers' clearing house * Cheque clearing * Cl ...
'' Cassa di Compensazione e Garanzia S.p.A.'' (CC&G). CC&G was renamed '' Euronext Clearing''.


Financial information


History


Background: Exchange companies that merged into Euronext

File:Beursvanberlage333.JPG,
Beurs van Berlage The Beurs van Berlage is a building on the Damrak, in the centre of Amsterdam. It was designed as a commodity exchange by architect Hendrik Petrus Berlage and constructed between 1896 and 1903. It influenced many modernist architects, in part ...
in
Amsterdam Amsterdam ( , , , lit. ''The Dam on the River Amstel'') is the Capital of the Netherlands, capital and Municipalities of the Netherlands, most populous city of the Netherlands, with The Hague being the seat of government. It has a population ...
, now an events venue File:Bourse Bxl 02.JPG, Former building of the
Brussels Stock Exchange The Brussels Stock Exchange (french: Bourse de Bruxelles, nl, Beurs van Brussel), abbreviated to BSE, was founded in Brussels, Belgium, by decree of Napoleon in 1801. In 2002, the BSE merged with the Amsterdam, Lisbon and Paris stock exchang ...
in
Brussels Brussels (french: Bruxelles or ; nl, Brussel ), officially the Brussels-Capital Region (All text and all but one graphic show the English name as Brussels-Capital Region.) (french: link=no, Région de Bruxelles-Capitale; nl, link=no, Bruss ...
, under redevelopment as a beer museum File:Bourse - panoramio (2).jpg, The
Palais Brongniart The Palais Brongniart ( en, Brongniart Palace) housed the historical Paris stock exchange (french: Bourse de Paris). It is located at the Place de la Bourse, in the II arrondissement, Paris. Early history Historically, stock trading took place ...
in
Paris Paris () is the capital and most populous city of France, with an estimated population of 2,165,423 residents in 2019 in an area of more than 105 km² (41 sq mi), making it the 30th most densely populated city in the world in 2020. S ...
, now an events venue File:Irish Stock Exchange, Anglesea Street.JPG, Stock exchange building in
Dublin Dublin (; , or ) is the capital and largest city of Republic of Ireland, Ireland. On a bay at the mouth of the River Liffey, it is in the Provinces of Ireland, province of Leinster, bordered on the south by the Dublin Mountains, a part of th ...
File:Euronext Oslo.jpg, Stock exchange building in
Oslo Oslo ( , , or ; sma, Oslove) is the capital and most populous city of Norway. It constitutes both a county and a municipality. The municipality of Oslo had a population of in 2022, while the city's greater urban area had a population of ...
File:Palazzo mezzanotte Milan Stock Exchange.jpg,
Palazzo Mezzanotte Palazzo Mezzanotte, also known as Palazzo delle Borse ("Stock Exchange Palace") is a 20th-century building of Milan, Italy, and the seat of the Italian stock exchange. It is located in Piazza Affari ("Business Square"), the city square after which ...
in
Milan Milan ( , , Lombard: ; it, Milano ) is a city in northern Italy, capital of Lombardy, and the second-most populous city proper in Italy after Rome. The city proper has a population of about 1.4 million, while its metropolitan city h ...
, now an events venue


2000–2007: Founding merger and early acquisitions

In 1998, the
London Stock Exchange London Stock Exchange (LSE) is a stock exchange in the City of London, England, United Kingdom. , the total market value of all companies trading on LSE was £3.9 trillion. Its current premises are situated in Paternoster Square close to St Pau ...
and
Deutsche Börse Deutsche Börse AG () or the Deutsche Börse Group, is a German company offering marketplace organizing for the trading of shares and other securities. It is also a transaction services provider. It gives companies and investors access to glo ...
announced their intention of forming an alliance to fend off competition from the United States, and take advantage from the European Union's (EU)
single currency A currency union (also known as monetary union) is an intergovernmental agreement that involves two or more states sharing the same currency. These states may not necessarily have any further integration (such as an economic and monetary union, ...
and harmonisation of
financial market A financial market is a market in which people trade financial securities and derivatives at low transaction costs. Some of the securities include stocks and bonds, raw materials and precious metals, which are known in the financial markets ...
s. In April 1999 the stock exchanges in
Paris Paris () is the capital and most populous city of France, with an estimated population of 2,165,423 residents in 2019 in an area of more than 105 km² (41 sq mi), making it the 30th most densely populated city in the world in 2020. S ...
, Zurich,
Madrid Madrid ( , ) is the capital and most populous city of Spain. The city has almost 3.4 million inhabitants and a metropolitan area population of approximately 6.7 million. It is the second-largest city in the European Union (EU), and ...
,
Brussels Brussels (french: Bruxelles or ; nl, Brussel ), officially the Brussels-Capital Region (All text and all but one graphic show the English name as Brussels-Capital Region.) (french: link=no, Région de Bruxelles-Capitale; nl, link=no, Bruss ...
,
Amsterdam Amsterdam ( , , , lit. ''The Dam on the River Amstel'') is the Capital of the Netherlands, capital and Municipalities of the Netherlands, most populous city of the Netherlands, with The Hague being the seat of government. It has a population ...
, and
Milan Milan ( , , Lombard: ; it, Milano ) is a city in northern Italy, capital of Lombardy, and the second-most populous city proper in Italy after Rome. The city proper has a population of about 1.4 million, while its metropolitan city h ...
signed a memorandum of understanding in Madrid, which formalised plans to include these bourses as well. Ultimately, only three decided to proceed, and on 22 September 2000 Euronext was formed following a merger of the
Amsterdam Stock Exchange Euronext Amsterdam is a stock exchange based in Amsterdam, the Netherlands. Formerly known as the Amsterdam Stock Exchange, it merged on 22 September 2000 with the Brussels Stock Exchange and the Paris Stock Exchange to form Euronext. The r ...
,
Brussels Stock Exchange The Brussels Stock Exchange (french: Bourse de Bruxelles, nl, Beurs van Brussel), abbreviated to BSE, was founded in Brussels, Belgium, by decree of Napoleon in 1801. In 2002, the BSE merged with the Amsterdam, Lisbon and Paris stock exchang ...
, and
Paris Bourse Euronext Paris is France's securities market, formerly known as the Paris Bourse, which merged with the Amsterdam, Lisbon, and Brussels exchanges in September 2000 to form Euronext NV. As of 2022, the 795 companies listed had a combined market ...
. In December 2001, Euronext acquired the shares of the
London International Financial Futures and Options Exchange The London International Financial Futures and Options Exchange (LIFFE, pronounced 'life') was a futures exchange based in London. In 2014, following a series of takeovers, LIFFE became part of Intercontinental Exchange, and was renamed ICE F ...
(LIFFE), forming Euronext.LIFFE. In 2002 the group merged with the Portuguese stock exchange Bolsa de Valores de Lisboa e Porto (BVLP), renamed
Euronext Lisbon Euronext Lisbon is a stock exchange in Lisbon, Portugal. It is part of Euronext pan-European exchange. Euronext Lisbon trades equities, public and private bonds, participation bonds, warrants, corporate warrants, investment trust units, and e ...
. In 2001, Euronext became a listed company itself after completing its initial public offering. In 2003, Euronext cash products were integrated onto a single platform (NSC). In 2004, Euronext derivatives products were integrated onto ''LIFFE CONNECT''. In 2005, Euronext introduced
Alternext Euronext Growth is a multilateral trading facility (MTF) operated by Euronext. This equity trading market that was opened May 17, 2005 to address an opportunity posed by small to medium-sized firms that were anticipated to desire easier access ...
as a market segment to help finance small and mid-class companies in the Eurozone.


2007–2014: Merger with the New York Stock Exchange and acquisition by Intercontinental Exchange

Due to apparent moves by
NASDAQ The Nasdaq Stock Market () (National Association of Securities Dealers Automated Quotations Stock Market) is an American stock exchange based in New York City. It is the most active stock trading venue in the US by volume, and ranked second ...
to acquire the
London Stock Exchange London Stock Exchange (LSE) is a stock exchange in the City of London, England, United Kingdom. , the total market value of all companies trading on LSE was £3.9 trillion. Its current premises are situated in Paternoster Square close to St Pau ...
or Euronext itself, NYSE Group, owner of the
New York Stock Exchange The New York Stock Exchange (NYSE, nicknamed "The Big Board") is an American stock exchange in the Financial District of Lower Manhattan in New York City. It is by far the world's largest stock exchange by market capitalization of its listed c ...
(NYSE), offered €8 billion (US$10.2b) in cash and shares for Euronext on 22 May 2006, outbidding a rival offer for the European Stock exchange operator from
Deutsche Börse Deutsche Börse AG () or the Deutsche Börse Group, is a German company offering marketplace organizing for the trading of shares and other securities. It is also a transaction services provider. It gives companies and investors access to glo ...
, the German stock market. Contrary to statements that it would not raise its bid, on 23 May 2006, Deutsche Börse unveiled a merger bid for Euronext, valuing the pan-European exchange at €8.6 billion (US$11b), €600 million over NYSE Group's initial bid. Despite this, NYSE Group and Euronext penned a merger agreement, subject to shareholder vote and regulatory approval. The initial regulatory response by SEC chief
Christopher Cox Charles Christopher Cox (born October 16, 1952) is an American attorney and politician who served as chair of the U.S. Securities and Exchange Commission, a 17-year Republican member of the United States House of Representatives, and member of t ...
(who was coordinating heavily with European counterparts) was positive, with an expected approval by the end of 2007. Deutsche Börse dropped out of the bidding for Euronext on 15 November 2006, removing the last major hurdle for the NYSE Euronext transaction. A run-up of NYSE Group's stock price in late 2006 made the offering far more attractive to Euronext's shareholders. On 19 December 2006, Euronext shareholders approved the transaction with 98.2% of the vote. Only 1.8% voted in favour of the Deutsche Börse offer. Jean-François Théodore, the
chief executive officer A chief executive officer (CEO), also known as a central executive officer (CEO), chief administrator officer (CAO) or just chief executive (CE), is one of a number of corporate executives charged with the management of an organization especially ...
of Euronext, stated that they expected the transaction to close within three or four months. Some of the regulatory agencies with jurisdiction over the merger had already given approval. NYSE Group shareholders gave their approval on 20 December 2006. The merger was completed on 4 April 2007, forming
NYSE Euronext NYSE Euronext, Inc. was a transatlantic multinational financial services corporation that operated multiple securities exchanges, including the New York Stock Exchange, Euronext and NYSE Arca (formerly known as ArcaEx). NYSE merged with Archip ...
. The new firm,
NYSE Euronext NYSE Euronext, Inc. was a transatlantic multinational financial services corporation that operated multiple securities exchanges, including the New York Stock Exchange, Euronext and NYSE Arca (formerly known as ArcaEx). NYSE merged with Archip ...
, was headquartered in New York City, with European operations and its trading platform run out of Paris. Then-NYSE
CEO A chief executive officer (CEO), also known as a central executive officer (CEO), chief administrator officer (CAO) or just chief executive (CE), is one of a number of corporate executives charged with the management of an organization especially ...
John Thain John Alexander Thain (born May 26, 1955) is an American businessman, investment banker, and former chair and CEO of the CIT Group. Thain was the last chairman and chief executive officer of Merrill Lynch before its merger with Bank of America. ...
, who was to head NYSE Euronext, intended to use the combination to form the world's first global stock market, with continuous trading of stocks and derivatives over a 21-hour time span. In addition, the two exchanges hoped to add
Borsa Italiana Borsa Italiana, based in Milan, is the Italian stock exchange. It manages and organises domestic market, regulating procedures for admission and listing of companies and intermediaries and supervising disclosures for listed companies.italy24.ils ...
(the Milan stock exchange) into the grouping. In 2008 and 2009
Deutsche Börse Deutsche Börse AG () or the Deutsche Börse Group, is a German company offering marketplace organizing for the trading of shares and other securities. It is also a transaction services provider. It gives companies and investors access to glo ...
made two unsuccessful attempts to merge with NYSE Euronext. Both attempts did not enter into advanced steps of merger. In 2011, Deutsche Börse and NYSE Euronext confirmed that they were in advanced merger talks. Such a merger would create the largest exchange in history. The deal was approved by shareholders of NYSE Euronext on 7 July 2011, and Deutsche Börse on 15 July 2011 and won the antitrust approved by the US regulators on 22 December 2011. On 1 February 2012, the deal was blocked by European Commission on the grounds that the new company would have resulted in a quasi-monopoly in the area of European financial derivatives traded globally on exchanges. Deutsche Börse unsuccessfully appealed this decision. In 2012, Euronext announced the creation of Euronext London to offer listing facilities in the UK. As such, Euronext received in June 2014 Recognized Investment Exchange (RIE) status from Britain's Financial Conduct Authority. On 20 December 2012, the boards of directors of both
Intercontinental Exchange Intercontinental Exchange, Inc. (ICE) is an American company formed in 2000 that operates global financial exchanges and clearing houses and provides mortgage technology, data and listing services. Listed on the Fortune 500, S&P 500, and Russell ...
(ICE) and the NYSE Euronext approved an $8 billion acquisition of NYSE Euronext. Under the terms shareholders of NYSE would receive either $33.12 in cash for each share or .2581 IntercontinentalExchange Inc. shares, or a combination of $11.27 in cash per share plus .1703 shares of stock. The acquisition is subject to regulator approval, though since the operations of ICE and NYSE have little in common—ICE is largely devoted to trading commodities, as opposed to NYSE's business of trading stocks and securities—the deal is not expected to be blocked. ICE said that after the deal closed it would sell the Euronext portion of the company, including stock exchanges in Amsterdam, Brussels, Lisbon and Paris. The deal went through and Euronext is a sister division to NYSE and part of ICE. ICE CEO
Jeffrey Sprecher Jeffrey Craig Sprecher (, , born February 23, 1955) is an American businessman, the founder, chairman, and CEO of Intercontinental Exchange, and chairman of the New York Stock Exchange. Early life Sprecher was born in Madison, Wisconsin, the s ...
would continue in that position at the combined company, while NYSE CEO Duncan Niederauer would serve as president. The future of the New York Stock Exchange's historic trading floor under ICE has not been announced. ICE closed the high profile and historic trading floors of its other earlier acquisitions, the
International Petroleum Exchange International is an adjective (also used as a noun) meaning "between nations". International may also refer to: Music Albums * ''International'' (Kevin Michael album), 2011 * ''International'' (New Order album), 2002 * ''International'' (The T ...
and the
New York Board of Trade The New York Board of Trade (NYBOT, renamed ICE Futures US in September, 2007), is a physical commodity futures exchange located in New York City. It is a wholly owned subsidiary of Intercontinental Exchange (ICE). History It originated in 1 ...
in New York. In December 2012
Intercontinental Exchange Intercontinental Exchange, Inc. (ICE) is an American company formed in 2000 that operates global financial exchanges and clearing houses and provides mortgage technology, data and listing services. Listed on the Fortune 500, S&P 500, and Russell ...
(ICE) announced plans to acquire NYSE Euronext, owner of Euronext, in an $8.2 billion takeover. In May 2013, Euronext established Enternext as a subsidiary to help small and medium-size enterprises (SMEs) listed on Euronext outline and apply a strategy most suited to support their growth. The ICE's deal was approved by the shareholders of NYSE Euronext and Intercontinental Exchange on 3 June 2013. The European Commission approved the acquisition on 24 June 2013 and on 15 August 2013 the US regulator, SEC, granted approval of the acquisition. European regulators and ministries of Finance of the participating countries approved the deal and on 13 November 2013 the acquisition was completed.


2014–present: Spin-off from ICE and subsequent development

Part of ICE's deal to acquire NYSE Euronext was a spin-off for Euronext, which was considered a positive element for European stakeholders. After a complex series of operations, this occurred on 20 June 2014, through an
initial public offering An initial public offering (IPO) or stock launch is a public offering in which shares of a company are sold to institutional investors and usually also to retail (individual) investors. An IPO is typically underwritten by one or more investment ...
(IPO). The former
Euronext.LIFFE Euronext N.V. (short for European New Exchange Technology) is a pan-European bourse that offers various trading and post-trade services. Traded assets include regulated equities, exchange-traded funds (ETF), warrants and certificates, bonds, de ...
was retained by ICE and renamed ''ICE Futures Europe''. In order to stabilise Euronext, a consortium of eleven investors decided to invest in the company as "reference shareholders". These investors owned 33.36% of Euronext's capital and have a 3 years lockup period:
Euroclear Euroclear is a Belgium-based financial services company that specializes in the settlement of securities transactions, as well as the safekeeping and asset servicing of these securities. It was founded in 1968 as part of J.P. Morgan & Co. to settl ...
,
BNP Paribas BNP Paribas is a French international banking group, founded in 2000 from the merger between Banque Nationale de Paris (BNP, "National Bank of Paris") and Paribas, formerly known as the Banque de Paris et des Pays-Bas. The full name of the grou ...
,
BNP Paribas Fortis BNP Paribas Fortis is an international bank based in Belgium and is a subsidiary of BNP Paribas. It was formerly, together with Fortis Bank Nederland, the banking arm of the financial institution Fortis. After the ultimately unsuccessful ABN-AMR ...
,
Société Générale Société Générale S.A. (), colloquially known in English as SocGen (), is a French-based multinational financial services company founded in 1864, registered in downtown Paris and headquartered nearby in La Défense. Société Générale ...
,
Caisse des Dépôts Caisse, a French word, may refer to: *Caisse Desjardins, an association of credit unions in Quebec *Caisse d'Epargne-Illes Balears, a road-bicycle racing team *Caisse de dépôt et placement du Québec, a public pension fund in Quebec *Caisse nati ...
,
BPI France BPI may refer to: In banking: *Banca Popolare Italiana, an Italian bank merged into Banco Popolare *Banco Português de Investimento, a Portuguese bank *Bank of the Philippine Islands, the oldest bank in the Philippines *Bpifrance, a French bank I ...
,
ABN Amro ABN or abn may refer to: Companies * ABN AMRO Group, a Dutch bank group * ABN AMRO, sometimes referred to as "ABN" in shorthand, is a Dutch state-owned bank * Algemene Bank Nederland, a now-defunct Dutch bank Radio, news and television organizat ...
, ASR,
Banco Espirito Santo Banco may refer to: Places * Banc (Barcelona Metro), also called Banco, a closed metro stop on the Barcelona metro * Banco, Virginia, an unincorporated community * Banco, West Virginia, an unincorporated community * Banco National Park, a nation ...
,
Banco BPI Banco may refer to: Places * Banc (Barcelona Metro), also called Banco, a closed metro stop on the Barcelona metro * Banco, Virginia, an unincorporated community * Banco, West Virginia, an unincorporated community * Banco National Park, a natio ...
and Belgian holding public company (SFPI/FPIM). They have 3 board seats. In June 2014, EnterNext launched two initiatives to boost SME equity research and support the technology sector. EnterNext partnered with Morningstar to increase equity research focusing on mid-size companies, especially in the telecommunications, media and technology (TMT) sector. On 22 September 2014, Euronext announced a partnership with DEGIRO regarding the distribution of retail services of Euronext. Upon publishing the third quarter results for 2014, the partnership was seen as a plan for Euronext to compete more effectively on the Dutch retail segment. In May 2017, Alternext was renamed to Euronext Growth. On 14 August 2017, Euronext announced the completion of its acquisition of FastMatch, a currency trading platform. On 27 March 2018, Euronext announced the completion of its acquisition of the Irish Stock Exchange. On 18 June 2019, Euronext announced the completion of its acquisition of the
Oslo Stock Exchange Oslo Stock Exchange ( no, Oslo Børs) (OSE: OSLO) is a stock exchange within the Nordic countries and offers Norway’s only regulated markets for securities trading today. The stock exchange offers a full product range including equities, deriv ...
. On 5 December 2019, Euronext announced that it would acquire 66% of the European
power Power most often refers to: * Power (physics), meaning "rate of doing work" ** Engine power, the power put out by an engine ** Electric power * Power (social and political), the ability to influence people or events ** Abusive power Power may a ...
exchange Exchange may refer to: Physics *Gas exchange is the movement of oxygen and carbon dioxide molecules from a region of higher concentration to a region of lower concentration. Places United States * Exchange, Indiana, an unincorporated community * ...
Nord Pool Nord Pool AS is a pan-European power exchange. Nord Pool has a main office in Oslo and further offices in Stockholm, Helsinki, Tallinn, Berlin and London. The company is owned by the European exchange operator Euronext as well as TSO Holding, ...
. The acquisition was completed on 15 January 2020. On 23 April 2020, Euronext announced that it would acquire ca. 70% of the Danish Central Securities Depository, VP Securities. The acquisition was completed on 4 August 2020. On 18 September 2020, the
London Stock Exchange Group London Stock Exchange Group plc (LSEG) is a United Kingdom-based stock exchange and financial information company headquartered in the City of London, England. It owns the London Stock Exchange (on which it is also listed), Refinitiv, LSEG Te ...
(LSEG) entered into exclusive talks to sell the
Italian Bourse Borsa Italiana, based in Milan, is the Italian stock exchange. It manages and organises domestic market, regulating procedures for admission and listing of companies and intermediaries and supervising disclosures for listed companies.italy24.il ...
(formally 100% of ''London Stock Exchange Group Holdings Italia S.p.A.''), situated in
Milan Milan ( , , Lombard: ; it, Milano ) is a city in northern Italy, capital of Lombardy, and the second-most populous city proper in Italy after Rome. The city proper has a population of about 1.4 million, while its metropolitan city h ...
, to Euronext. As part of the deal, CDP Equity, 100% owned by
Cassa Depositi e Prestiti Cassa Depositi e Prestiti S.p.A. (also kwown as CDP or CDP Group) is a prominent Italian investment bank founded on November 20, 1850, in Turin. Its main duty was to finance public works like roads and waterworks during the reign of Victor Emman ...
, and
Intesa Sanpaolo Intesa Sanpaolo S.p.A. is an Italian international banking group. It is Italy's largest bank by total assets and the world's 27th largest. It was formed through the merger of Banca Intesa and Sanpaolo IMI in 2007, but has a corporate identity s ...
would become Euronext shareholders. LSEG is selling Italian Bourse as part of regulatory remedies to see through its $27 billion purchase of data provider
Refinitiv Refinitiv is an American-British global provider of financial market data and infrastructure. The company was founded in 2018. It is a subsidiary of London Stock Exchange Group after a US$27 billion sale from previous owners Blackstone Group LP ...
. A €4.3 bn deal was announced on 9 October, albeit contingent on the
European Commission The European Commission (EC) is the executive of the European Union (EU). It operates as a cabinet government, with 27 members of the Commission (informally known as "Commissioners") headed by a President. It includes an administrative body o ...
formally stating in mid-December that it will only permit LSEG's acquisition of Refinitiv if the Italian Bourse is sold. On 29 April 2021, Euronext closed a deal to purchase Borsa Italiana from
London Stock Exchange Group London Stock Exchange Group plc (LSEG) is a United Kingdom-based stock exchange and financial information company headquartered in the City of London, England. It owns the London Stock Exchange (on which it is also listed), Refinitiv, LSEG Te ...
(LSEG) to acquire Borsa Italiana Group. On 29 April 2021, Euronext announced the completion of its acquisition of the Italian Bourse.


See also

*
Bourse of Antwerp The bourse of Antwerp was the world's first purpose-built commodity exchange. Falling into disuse in the 17th century, from 1872 until 1997 the restored building housed the Antwerp Stock Exchange. After further restoration, the building is now ...
, the world's first financial exchange *
Economy of the European Union The economy of the European Union is the joint economy of the member states of the European Union (EU). It is the third largest economy in the world in nominal terms, after the United States and China, and the third one in purchasing power p ...
*
Euroclear Euroclear is a Belgium-based financial services company that specializes in the settlement of securities transactions, as well as the safekeeping and asset servicing of these securities. It was founded in 1968 as part of J.P. Morgan & Co. to settl ...
*
List of European stock exchanges In the European region, there are multiple stock exchanges among which five are considered major (as having a market cap of over US$1 trillion): *Euronext, which is a pan-European, Dutch-domiciled and France-headquartered stock exchange compo ...
*
List of stock exchanges This is a list of major stock exchanges. Those futures exchanges that also offer trading in securities besides trading in futures contracts are listed both here and in the list of futures exchanges. There are sixteen stock exchanges in the world ...


References


External links

* * {{Authority control Financial services companies established in 2000 2007 mergers and acquisitions Corporate spin-offs