The TRADE TRADETech Daily 2018 - Page 7

THETRADETECH DA I LY latest news THE OFFICIAL NEWSPAPER OF TRADETECH 2018 Trading venues 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. Issue 1 TheTradeNews.com 7