Euronext, the pan-European exchange, successfully migrated the equity and exchange traded funds (ETF) markets of Borsa Italiana to Optiq, Euronext’s proprietary state-of-the-art trading platform.
“Following the successful migration of our core data centre into the European Union completed in June 2022, we have now achieved the migration of the equity and ETF markets of Borsa Italiana, 22 months after the closing of the Borsa Italiana Group acquisition,” said Stéphane Boujnah, CEO and chairman of the managing bard of Euronext N.V.
He added, “This migration contributes to the delivery of the €115 million run-rate annual synergies related to the Borsa Italiana Group acquisition targeted by the end 2024
The exchange acquired the Italian exchange from the London Stock Exchange Group (LSEG) in April 2021 for €4.4 billion as part of LSEG’s takeover of Refinitiv.
Around nine months ago, it moved the Euronext Core Data Centre from the UK to Italy.
Euronext said it is the largest liquidity pool in Europe with Optiq, handling 25% of European equity trading activity.
The platform is the entry point for local and global institutional investors, as well as for retail investors, to trade all Euronext securities across seven markets in Europe.
Euronext is Europe’s leading listing venue, with close to 1,930 equity issuers now listed on its exchanges in Amsterdam, Brussels, Dublin, Lisbon, Milan, Oslo and Paris, for an aggregated market capitalisation of over €6.3 trillion as of end December 2022.
Euronext said the migration is a key milestone in building the backbone of the Capital Markets Union, a key initiative launched in 2015 by the European Commission aiming to develop and further integrate capital markets in the bloc in order to diversify the funding of EU enterprises and provide investors with better investment opportunities.
©Markets Media Europe 2023
