Euronext, a leading European trading venue operator, announced its financial results for the first quarter of 2021 today. The operator reported €249.2 million in revenues during the first three months of 2021, which is a jump of 5% compared to the same period in 2020.
According to an official announcement, Euronext completed the acquisition of the Borsa Italiana Group for the final consideration of €4,444 million following the satisfaction of all conditions. In November 2020, the operator received approval from shareholders for the acquisition of the Borsa Italiana Group.
Euronext reported a dip in Spot FX trading revenues during the first three months of 2021. The overall revenue related to Spot FX trading reached €6.1 million in Q1 of 2021, which is down 24.5% compared to the same period in 2020.
— Euronext (@euronext) April 29, 2021
Commenting on the latest results and the completion of the acquisition, Stephane Boujnah, Chief Executive Officer and Chairman of the Managing Board of Euronext, said: “Today marks a new chapter in the history of Euronext and of European capital markets. With the completion of the acquisition of the Borsa Italiana Group, Euronext delivers on its ambition to build the leading pan-European market infrastructure, connecting local economies to global capital markets, for the benefit of all market participants across Euronext’s markets. Even though Q1 2020 was an exceptional quarter in many respects, we continued to see during Q1 2021 the benefits of our diversification strategy as well as of the structural market dynamics of 2020.”
Borsa Italiana Group
Euronext mentioned that the recent acquisition of the Borsa Italiana Group will facilitate customers of both the companies. Additionally, the operator highlighted a significant financial impact of the recent acquisition.
“Euronext increases its business diversification with new capabilities in fixed income trading and clearing, as well as consolidation of a significant CSD. This transaction strengthens Euronext’s profile and enhances its strategic prospects for future growth,” Boujnah added.
In March 2021, the operator posted a strong jump in foreign exchange (FX) volumes.