Euronext announced that it has completed the sale of Oslo Market Solutions (“OMS”) to Infront, a leading European provider of financial market solutions.
OMS is an online market data, investor relations, portfolio and trading solutions provider in the Nordic region and was acquired in 2019 as part of the acquisition of Oslo Børs VPS. OMS generated c. €3.3 million of revenue in 2020.
The sale of OMS was implemented in the context of the conclusion of a strategic review initiated following the integration of Oslo Børs VPS and the decision to divest from non-core activities.
Euronext will continue to work in close collaboration with OMS to continue delivering best-in-class services to its clients.
Based on Euronext 2020 full-year results, the sale of OMS would account for an increase of c.+0.2 pts to Euronext EBITDA margin. This will translate in 2021 as an additional cost reduction compared to the mid-single digit decrease in operating costs exc. D&A expected in 2021.
Source: Euronext
NEWSLETTER SIGN UP
And receive exclusive articles on securities markets
As Technology Evolves, Asset Managers Adapt and Innovate
Citi Changes Organizational Structure
SEC Charges Virtu for Disclosures Relating to Information Barriers
ICE Futures Singapore Partners with CoinDesk Indices
Related articles
-
Nasdaq is focussed on expanding share in the fast-growing segment of index options.
-
BGC Group expects to launch FMX Futures in September 2024 to challenge CME.
-
The exchange is picking up the pace of migrating datasets onto the Microsoft platform.
-
The Australian exchnage is seeking stakeholder feedback by 18 June 2024.
-
The German exchange group confirmed its guidance for 2024.