Update On The Integration Of Euronext Dublin

Shanny Basar

Euronext announced an update on the integration of Euronext Dublin, of which Euronext completed the acquisition on 27 March 2018.

Migration to Optiq® for Euronext Dublin in February 2019
The migration of Euronext Dublin’s Cash Market to Euronext’s trading platform Optiq® is now planned in February 2019, subject to regulatory approval.
The migration to Optiq®, Euronext’s proprietary trading platform, will allow Euronext Dublin trading members and investors to benefit from access to trading across all cash equity asset classes available on Euronext’s pan-European exchanges. Euronext and Deutsche Börse will work together actively to ensure a smooth transition.

Upgraded cost synergies targets
As a result of the first successful integration steps, Euronext has identified additional cost-saving opportunities, and now expects to deliver €8 million (vs €6 million announced at the time of acquisition) in pre-tax run-rate cost synergies. As part of the integration, total costs of €14 million (vs €9 million announced at the time of acquisition) will be incurred in the first years of integration.

Signing of a termination agreement with Deutsche Börse for the migration of Euronext Dublin to Optiq®
Euronext has signed an agreement for the early termination of the trading services contract provided by Deutsche Börse AG to the Irish Stock Exchange (now operating as Euronext Dublin), initially due on December 2021. This agreement will contribute to approximately 50% of the announced €8 million in cost synergies. Furthermore, Euronext will recognise a €4 million impact from this settlement as an exceptional P&L expense in Q3 2018.

Source: Euronext

Related articles

  1. $63.8bn of shares were executed in the Closing Cross in 2.04 seconds in Russell's annual reconstitution.

  2. This year's traded notional exceeded €100m compared to last year’s €20m.

  3. The suite of tradeable indices are based on the Bloomberg Fixed Income Indices.

  4. Clients can access UMBS TBA futures alongside U.S. Treasury and short-term interest rate contracts.

  5. SDX Web3 Services are targeted at institutional clients.

Wordpress Management by Creating Digital.