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Euronext completes Irish
Stock Exchange acquisition
COMPLETED ACQUISITION OF THE IRISH STOCK EXCHANGE WILL SEE ENTITY REBRANDED AS EURONEXT DUBLIN.
“The ISE is a great company with fantastic management
and product offering that will contribute to the
diversification of our volume driven line.”
E
uronext has completed the acquisition of
100% of the shares and voting rights of the
Irish Stock Exchange (ISE) following regulatory
approval.
First announced in November, the €137
million deal is part of the European exchange
group’s expansion and post-Brexit strategies.
The ISE will join Euronext’s federal model
and will operate under the new name Euronext
Dublin, with Deidre Somers, formerly CEO of
the ISE, having been appointed chief executive
officer of the business.
Speaking to The TRADE CEO of Euronext
Stéphane Boujnah, explained the decision to
acquire the ISE was made irrespective of the
UK’s departure from the European Union.
“Ireland is a great country with a 3.8%
growth prospect in 2018,” he said. “The ISE is
a great company with fantastic management
and product offering that will contribute to the
diversification of our volume driven line.”
Boujnah added that Euronext remains com-
mitted to London and plans to ensure banks
and the wider industry in London will continue
to have access to the Euronext platform.
“We believe London will remain an important
financial centre, albeit structured differently
in the way it is today, but we will continue to
grow our operations in London,” he said.
Following confirmation of the departure of
its London CEO, Lee Hodgkinson, Euronext
said earlier this month that its head of fixed
income, rates and FX Paul Humphrey will lead
the business on an interim basis. Hodgkinson,
who also held the role of head of markets and
global sales with Euronext, left the company
in April after nine years with the UK arm of the
exchange operator.
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