By Huw Jones
LONDON (Reuters) -Euronext first-quarter revenue rose 8% to a record 401.9 million euros ($434.78 million), the pan-European stock exchange said on Tuesday, with its multi-year integration of the Milan Exchange it bought in 2021 all but complete.
Euronext, which operates exchanges in Amsterdam, Brussels, Dublin, Lisbon, Milan, Oslo and Paris, said in a statement that it has moved Italian derivatives trading onto its main platform.
“This migration was the last in the ambitious integration plan of Italian markets onto the Euronext single trading platform, and was completed less than three years after the acquisition of the Borsa Italiana Group,” Euronext said.
Profit before income tax rose 50.3% to 203.3 million euros in the first quarter, helping to send reported earnings per share up 49.1% to 1.35 euro per share.
The rise in revenue was helped by expansion in clearing services, and a record performance in fixed income and power trading, Euronext said.
“We maintain our trademark cost discipline in an inflationary environment,” Euronext CEO Stephane Boujnah told reporters.
Euronext will hold a capital markets day for investors on Nov. 8 to provide financial guidance for 2025-2027, setting out how it will “adjust” strategy and prioritise capital to achieve new targets, Boujnah said.
The exchange also said it has launched its planned “dark” trading service, which offers institutional investors a more anonymous style of trading, helping the bourse compete with banks and other exchanges that offer it.
All large brokers are getting ready to trade in the dark on Euronext, and remaining key players should be connected over the coming two months, Euronext said.
($1 = 0.9244 euros)
(Reporting by Huw Jones;Editing by Alison Williams and Tomasz Janowski)
