Borsa Italiana has significantly contributed to Euronext’s business growth, surpassing Paris and Oslo in revenue generation. Since Euronext’s acquisition of Borsa Italiana in April 2021, the group’s market capitalization has almost tripled to EUR15.5 billion. Borsa Italiana’s revenues have surged by 40% to EUR200 million, and its workforce has expanded from 655 to 828 employees.
According to Euronext CEO Stéphane Boujnah, the partnership with Italian counterparts and authorities has been fruitful, leading to notable achievements. The Ponte San Pietro data center now manages a quarter of European trading, with group clearing operations centralized in Rome. Plans are underway to relocate most settlement activities to Milan, demonstrating a strategic shift within the organization.
Euronext’s CFO Giorgio Modica highlighted that a significant portion of the revenue increase stemmed from the migration of clearing services to Rome. The trading volumes have also seen a notable uptick, with daily cash transactions soaring from EUR 3.4 billion to EUR 5.8 billion. The market capitalization has surged to EUR 811 billion, showcasing the market’s robust performance.
In the fixed-income sector, MTS volumes have tripled to EUR 49 billion per day. Additionally, on the MOT platform, EMTN programs valued at EUR 90 billion and dematerialized deposits worth EUR 34 billion have been reintroduced. Efforts to support small and medium enterprises (SMEs) continue, including initiatives like the National Strategic Fund and assistance from the Lombardy Region.
The acquisition of Borsa Italiana has proven to be a resounding success for Euronext, surpassing initial expectations. In the first quarter post-acquisition, revenues surged by 14%, adjusted EBITDA by 17%, and net profit by 18%, underscoring the positive impact of the strategic move.
Industry experts view the collaboration between Euronext and Borsa Italiana as a pivotal development in the European financial landscape. The synergy between the two entities has not only bolstered Euronext’s financial performance but also enhanced its market presence, positioning the group as a key player in the region’s financial markets.
Market analysts suggest that this strategic alliance could set a precedent for future cross-border partnerships within the financial sector. The success story of Euronext and Borsa Italiana serves as a beacon for other exchanges seeking to expand their market reach and enhance operational efficiency through strategic acquisitions and collaborations.
As Euronext continues to capitalize on the synergies derived from the Borsa Italiana acquisition, the financial markets are closely monitoring the group’s growth trajectory and its evolving role in shaping the European financial landscape. The strategic decisions made by Euronext and the operational changes implemented post-acquisition are likely to influence market dynamics and set new benchmarks for industry performance.
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