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| Company type | Public |
|---|---|
| Euronext Paris: ENX CAC 40 | |
| ISIN | NL0006294274 |
| Industry | Financial services |
| Founded | 1285; 740 years ago (1285) (asHuis ter Beurze) 1602; 423 years ago (1602) (as Amsterdam Stock Exchange) 1724; 301 years ago (1724) (as Paris Bourse) 22 September 2000; 25 years ago (2000-09-22) (present consortium)[1][2][3][4] |
| Headquarters | Paris, France (operational headquarters) Amsterdam, Netherlands (registered office) |
Key people | Stéphane Boujnah[5] (CEO &chairman of the Managing Board) |
| Revenue | 1,627 million (2024)[6] |
| 620.684 million (2024) | |
Number of employees | 2455 (2024) |
| Subsidiaries |
|
| Website | euronext.com |
Euronext N.V. (short forEuropean New Exchange Technology)[7] is a Europeanbourse that provides trading and post-trade services for a range of financial instruments. It isregistered inAmsterdam but its operationalheadquarters are located inParis.[8] It operates major stock exchanges in seven countries: France (Euronext Paris), the Netherlands (Euronext Amsterdam), Belgium (Euronext Brussels), Ireland (Euronext Dublin), Portugal (Euronext Lisbon), Italy (Borsa Italiana) and Norway (Euronext Oslo Børs). The present-day Euronext was spun off from theIntercontinental Exchange (ICE) in 2014,[9] shortly after ICE's acquisition of NYSE Euronext the year before.
Traded assets include regulatedequities,exchange-traded funds (ETF), warrants and certificates,bonds,derivatives,commodities,foreign exchange as well asindices. As of March 2025, Euronext operated nearly 1,800 listedissuers with amarket capitalization of approximately €6.3 trillion.[10]
Euronext is the largest center for debt and funds listings in the world, and provides technology andmanaged services to third parties. In addition to its main regulated market, it operatesEuronext Growth andEuronext Access, providing access to listing forsmall and medium-sized enterprises.Euronext Paris accounts for more than 80% of Euronext’s total market cap. It also plays a key role in commodities trading, offering markets for power throughNord Pool and for fish throughFish Pool, alongside other agricultural commodities such as milling wheat and rapeseed.
Post-trade services includeclearing performed by Euronext's multi-assetclearing house,Euronext Clearing, headquartered inRome, as well ascustody and settlement performed by Euronext'scentral securities depository (CSD),Euronext Securities.
Euronext traces its origins back to some of the world's oldest bourses, formed in theLow Countries' shifting trade centres,Bruges,Antwerp and Amsterdam in 1285, 1485 and 1602, respectively, as well as to the foundation of theParis Bourse in 1724. In its present form, Euronext was established in September 2000 through the merger of the bourses in Amsterdam, Brussels and Paris. The goal was to create a single, integrated, and liquid market for securities trading across Europe. Since its inception, Euronext has continued to expand, and now operates stock exchanges in several European countries, including France, the Netherlands, Belgium, Portugal, Ireland, and Norway. Its creation was followed by the introduction of thesingle currency and harmonisation of financial markets.
In August 2023, the company formedEuroCTP as a joint venture with 13 other bourses, in an effort to provide aconsolidated tape for theEuropean Union, as part of theCapital Markets Union proposed by theEuropean Commission.
In 1998, theLondon Stock Exchange andDeutsche Börse 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 and harmonisation offinancial markets.[11] In April 1999 the stock exchanges inParis,Zurich,Madrid,Brussels,Amsterdam, andMilan 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 theAmsterdam Stock Exchange,[12]Brussels Stock Exchange, andParis Bourse.[1][2][3][4]
In 2001, Euronext became a listed company itself after completing its initial public offering.[13][14]
In December 2001, Euronext acquired the shares of theLondon International Financial Futures and Options Exchange (LIFFE), forming Euronext.LIFFE.[15]
In 2002, the group merged with the Portuguese stock exchange Bolsa de Valores de Lisboa e Porto (BVLP), renamedEuronext Lisbon.[3]
In 2003, Euronext cash products were integrated onto a single platform (NSC).[16]
In 2004, Euronext derivatives products were integrated ontoLIFFE CONNECT.
In 2005, Euronext introducedAlternext as a market segment to help finance small and mid-class companies in the Eurozone.
Due to apparent moves byNASDAQ to acquire theLondon Stock Exchange[18] or Euronext itself,[19] NYSE Group, owner of theNew York Stock Exchange (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 fromDeutsche Börse, the German stock market.[20] 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.[21] Despite this, NYSE Group and Euronext penned a merger agreement, subject to shareholder vote and regulatory approval. The initial regulatory response bySEC chiefChristopher Cox (who was coordinating heavily with European counterparts) was positive, with an expected approval by the end of 2007.[22]
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.[23]On 19 December 2006, Euronext shareholders approved the transaction with 98.2% of the vote. Only 1.8% voted in favour of theDeutsche Börse offer.Jean-François Théodore, thechief executive officer of Euronext, stated that they expected the transaction to close within three or four months.[24]Some of the regulatory agencies with jurisdiction over the merger had already given approval. NYSE Group shareholders gave their approval on 20 December 2006.[25]The merger was completed on 4 April 2007, formingNYSE Euronext.
The new firm,NYSE Euronext, was headquartered in New York City, with European operations and its trading platform run out of Paris. Then-NYSECEOJohn Thain, 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 addBorsa Italiana (the Milan stock exchange) into the grouping.
In 2008 and 2009Deutsche Börse made two unsuccessful attempts to merge with NYSE Euronext. Both attempts did not enter into advanced steps of merger.[26][27] 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.[28] The deal was approved by shareholders of NYSE Euronext on 7 July 2011,[22] andDeutsche Börse on 15 July 2011[29] and won the antitrust approved by the US regulators on 22 December 2011.[30] 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.[31][32]Deutsche Börse unsuccessfully appealed this decision.[33][34]
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.[35]
On 20 December 2012, the boards of directors of bothIntercontinental Exchange (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.[36] 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.[37] 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.[38] The deal went through and Euronext is a sister division to NYSE and part of ICE. ICE CEOJeffrey Sprecher would continue in that position at the combined company, while NYSE CEO Duncan Niederauer would serve as president.[37] 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, theInternational Petroleum Exchange and theNew York Board of Trade in New York.[39]
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.[40][41]
The ICE's deal was approved by the shareholders of NYSE Euronext and Intercontinental Exchange on 3 June 2013.[42][43][44]The European Commission approved the acquisition on 24 June 2013[45]and on 15 August 2013 the US regulator, SEC, granted approval of the acquisition.[46][47][48]European regulators and ministries of Finance of the participating countries approved the deal and on 13 November 2013 the acquisition was completed.[49][50]
Part of ICE's deal to acquire NYSE Euronext was a spin-off for Euronext, which was considered a positive element for European stakeholders.[49] After a complex series of operations, this occurred on 20 June 2014, through aninitial public offering (IPO).[52] The formerEuronext.LIFFE was retained by ICE and renamedICE 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,BNP Paribas,BNP Paribas Fortis,Société Générale,Caisse des Dépôts,BPI France,ABN Amro, ASR,Banco Espírito Santo,Banco BPI and Belgian holding public companyBelgian Federal Holding and Investment Company [fr] (SFPI/FPIM).[53] 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 withDEGIRO[54] 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.[55]
In May 2017, Alternext was renamed to Euronext Growth.[56]
On 14 August 2017, Euronext announced the completion of its acquisition of FastMatch, a currency trading platform.[57]
On 27 March 2018, Euronext announced the completion of its acquisition of the Irish Stock Exchange,[58] rebranded as Euronext Dublin, to expand its reach into the debt and funds markets.
On 18 June 2019, Euronext announced the completion of its acquisition of theOslo Stock Exchange.[59]
On 5 December 2019, Euronext announced that it would acquire 66% of the EuropeanpowerexchangeNord Pool.[60][61] The acquisition was completed on 15 January 2020.[62]
On 23 April 2020, Euronext announced that it would acquire ca. 70% of the Danish Central Securities Depository,VP Securities.[63] The acquisition was completed on 4 August 2020.[64]
On 18 September 2020, as part of regulatory remedies to see through its $27 billion purchase of data providerRefinitiv, theLondon Stock Exchange Group (LSEG) entered into exclusive talks to sell theItalian Bourse (formally 100% ofLondon Stock Exchange Group Holdings Italia S.p.A.), situated inMilan, to Euronext.[65][66] As part of the deal, CDP Equity, 100% owned byCassa Depositi e Prestiti, andIntesa Sanpaolo would become Euronext reference shareholders.[67]
In April 2021, Euronext completed the acquisition of the Borsa Italiana Group for €4.4 billion, enhancing its leadership in the European financial markets. This acquisition integrated the Milan Stock Exchange (Borsa Italiana) and its subsidiary MTS, a leader in fixed income markets, into Euronext. As of 2024, Euronext has further consolidated its market position through technological advancements, partnerships, and sustainability initiatives.
On 23 August 2023, Euronext formedEuroCTP as a joint venture with 13 other bourses, in an effort to provide aconsolidated tape for theEuropean Union, as part of theCapital Markets Union proposed by theEuropean Commission.
In November 2024, Euronext announced a new three-year strategic plan titled "Innovate for Growth 2027", aimed at accelerating revenue growth through innovation and business diversification. The plan focuses on three main priorities:
The strategic plan reaffirms Euronext's commitment to sustainability and ESG by setting a Net Zero target for 2027. It also states a target of an annual revenue and income growth of over 5%, with capital expenditure (CAPEX) estimated between 4% and 6% of total revenues. In addition, Euronext announced a share buyback program of up to €300 million, set to be completed within a maximum of 12 months starting in November 2024.[68]
On 1 July 2025, Euronext announced that it submitted a takeover offer in order to acquireAthens Stock Exchange.[69] Discussions focused on a potential all-share deal valued at approximately $470 million.[70] On 6 October 2025, Euronext launched a voluntary exchange offer for all ATHEX shares[71] and announced on 19 November 2025 that the offer was successful, with Euronext obtaining a controlling stake of 74,3% of ATHEX, thus resulting in the acquisition of Athens Stock Exchange by Euronext.[72]
Euronext operates its main regulated market, as well two types ofmultilateral trading facilities (MTFs) providing access to listing forsmall and medium-sized enterprises (SMEs), titledEuronext Growth andEuronext Access.
Euronext maintains a single order book at its proprietary market platformOptiq.[74]
| Topology | EU regulated | Multilateral trading facilities | ||
|---|---|---|---|---|
| Market | Euronext | Euronext Growth | Euronext Access | |
| Number of issuers | 776 | 229 | 180 | |
| Avg. valuation atinitial public offering (€m) | Size | 278.1 | 22.8 | 0.1 |
| Market cap. | 5,514 | 97 | 51 | |
| Availability at listing venues (operatingmarket identifier code) | ||||
| Amsterdam |  XAMS |  | | |
| Brussels | XBRU | ALXB | MLXB | |
| Lisbon | XLIS | ALXL | ENXL | |
| Dublin | XMSM | XESM | | |
| Milan | XMIL | EXGM | | |
| Oslo | XOSL | MERK | | |
| Paris | XPAR | ALXP | XMLI | |
Euronext manages various country (national), as well as pan-European regional and sector and strategy indices.[76]
| Name | Symbol | Trading Currency |
|---|---|---|
| European | ||
 Euronext 100 | N100 | EUR |
| National | ||
 AEX | AEX | EUR |
 BEL 20 | BEL20 | EUR |
 CAC 40 | PX1 | EUR |
 ISEQ 20 | ISEQ20 | EUR |
 FTSE MIB | MIB | EUR |
 PSI 20 | PSI20 | EUR |
 OBX 25 | OBX | NOK |
Euronext FX is a globalforeign exchange trading platform, known asFastMatch until 2019.
Euronext offers trading in a number of physical commodities such as Electric power (Nord Pool), salmon futures(Fish Pool), milling wheat, rapeseed, corn, durum wheat, and wood pellets.
Euronext operatesderivatives markets.
Euronext is the largest centre for debt and funds listings in the world.
Euronext's product range also includesexchange-traded funds.
Euronext provides custody and settlement services through itscentral securities depository (CSD),Euronext Securities, based on Euronext's ownership of previous national CSDs in Denmark, Italy, Norway and Portugal.
Between 2016 and 2019 Euronext owned a 20% share inEuropean Central Counterparty N.V. (EuroCCP).[77][78]
As of December 2019, Euronext owns an 11.1% share inLCH SA.
As part of its acquisition of theItalian Bourse in 2021, Euronext obtained the multi-assetclearing houseCassa di Compensazione e Garanzia S.p.A. (CC&G). CC&G was renamedEuronext Clearing.
Euronext Corporate Services (ECS) is a wholly owned subsidiary of Euronext. Founded in 2016, ECS provides solutions and services to more than 4,000 organisations, ranging from corporates to the public sector.
It has acquired a number of companies, including Company Webcast (webcasting)[citation needed], iBabs (board portal),[79] InsiderLog (compliance software)[citation needed].
| Year[80] | Revenue | EBITDA | Net result |
|---|---|---|---|
| 2014 | €458,5 | €225,4 | €118,2 |
| 2015 | €518,5 | €283,8 | €172,7 |
| 2016 | €496,4 | €283,9 | €197,0 |
| 2017 | €532,3 | €297,8 | €241,3 |
| 2018 | €615,0 | €354,3 | €216,0 |
| 2019 | €679,1 | €399,4 | €222,0 |
| 2020 | €884,3 | €520,0 | €315,5 |
| 2021 | €1298,7 | €752,8 | €413,3 |
| 2022 | €1418,8 | €861,6 | €437,8 |
| 2023 | €1474,7 | €864,7 | €555,3 |
| 2024 | €1626,9 | €1006,5 | €585,6 |
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