Euronext announced today that it has completed its acquisition of the Irish Stock Exchange (ISE) after receiving regulatory approvals.
The pan-European exchange will add the ISE to its federal model, where it will operate as Euronext Dublin, with Ireland becoming one of Euronext’s six core countries.
The combined group is the largest centre for debt and funds listings in the world, with more than 37,000 listed bonds and 5,600 funds.
It is also a major player in Exchange Traded Funds with 1,050 listings.
Deirdre Somers, who was appointed as CEO of Euronext Dublin and will join the Managing Board of Euronext N.V., described it as an historic day for Irish capital markets.
“We are excited to be part of the Euronext federal model and the opportunities that it delivers to listed companies and Irish enterprises to access wider pools of international capital and corporate services,” she said.
“Euronext is uniquely positioned to welcome independent exchanges such as the Irish Stock Exchange, now Euronext Dublin, that want to join its federal model and benefit from its single cross-country liquidity pool, its state-of-the-art proprietary technology, and its single rule book,” said Stéphane Boujnah, CEO and Chairman of the Managing Board of Euronext.
“We have a strong growth plan for our new combined Group, to strengthen our leadership in debt and funds listings, and to be the entry point for ETF growth, while generating synergies through the integration of Euronext Dublin,” he said.
“This significant extension of the federal model will also reinforce Euronext’s post-Brexit strategic position and allow the Group to capture growth opportunities that arise, with a disciplined M&A approach.”
Euronext Dublin to be consolidated in Euronext financials on April 1st.