Euronext

Euronext calls its structure a federal model, in which each national exchange keeps its local name, team and issuers while the markets share the trading platform Optiq. The group grew through mergers and purchases, adding Lisbon in 2002, the Irish Stock Exchange in Dublin in 2018, Oslo Børs in 2019 and the Borsa Italiana Group in Milan in 2021. In November 2025 Euronext bought a majority stake in the Athens Stock Exchange, which runs the Greek capital market with its own clearing house and depository.

The market supervisors of Belgium, France, Ireland, Italy, the Netherlands, Norway and Portugal coordinate their oversight of the group in one college of regulators. Euronext Dublin, whose roots go back to 1793, is the center of the group for listing debt, funds and ETFs. Across all venues, Euronext handled 29 percent of lit equity trading in Europe as of September 2026, according to its monthly volume report.

Euronext describes itself as the largest equity listing venue in Europe and the largest venue for debt listings worldwide. Companies can list on the regulated main markets or on Euronext Growth and Euronext Access, two segments with lighter rules for small and mid-sized firms. Next to shares and bonds, issuers list ETFs, funds, warrants, certificates and structured products on the same markets.

IPOready is the pan-European pre-IPO education program of Euronext for founders and managers who plan a listing. In the second quarter of 2026, companies with headquarters outside the Euronext countries made up nearly half of the new listings on the group markets. On Euronext Athens a fast-track process can take a company from application to listing in under eight weeks.

Euronext Clearing, headquartered in Rome, is the central counterparty of the group under the European Market Infrastructure Regulation, EMIR. It took over clearing for the cash markets in France, Ireland, the Netherlands and Portugal in November 2023, for commodity derivatives in July 2024 and for financial derivatives in September 2024, which ended the contract with LCH SA. Euronext Clearing also clears European government bond and repo trades from MTS, BrokerTec, MOT, EuroTLX and Vorvel.

The central securities depositories of Euronext Securities in Copenhagen, Milan, Oslo and Porto settle trades and keep securities in custody. When the network started in November 2021, these four depositories held more than 6.5 trillion euros in assets under custody. Since September 2026 Euronext Securities also settles the equity trades of Euronext Amsterdam, Brussels and Paris, a step the group ties to the planned move of European markets to T+1 settlement.

Shares of Euronext N.V. trade in Paris, Amsterdam, Brussels and Lisbon, and the stock joined the French CAC 40 index on 22 September 2025. Annual revenue grew from 458.5 million euros in 2014 to more than 1.6 billion euros in 2024, while the market value of the group rose from 1.4 billion euros at the IPO to 14.5 billion euros in August 2025. Euronext also runs index families such as the CAC 40 ESG, whose composition it reviews every March, June, September and December.

In the second quarter of 2026, underlying revenue and income rose by 16.9 percent to 544.4 million euros, and adjusted EBITDA reached 360.0 million euros at a margin of 66.1 percent. Stéphane Boujnah is chief executive officer and chairman of the managing board and leads the group under its strategic plan Innovate for Growth 2027.

The cash and derivatives markets of Euronext open Monday to Friday and close at all venues on New Year's Day, Good Friday, Easter Monday, 1 May and Christmas Day. On 24 and 31 December most venues trade only half a day, while Milan and Oslo stay closed on both days. Dublin also closes on Irish bank holidays, and Oslo closes on Norwegian holidays such as Maundy Thursday, Ascension Day and Whit Monday.

Euronext lists exchange-traded products on crypto assets next to its ETFs, and Euronext Clearing has acted as central counterparty for these products since 3 March 2025. The group expects central clearing to widen the choice of crypto ETPs for investors who want to hold them in a regulated market.

Euronext N.V. was formed in 2000 as the first pan-European exchange, and in December 2001 it bought the London International Financial Futures and Options Exchange, LIFFE. The stock exchange of Lisbon and Porto joined in 2002, and in 2007 Euronext combined with the New York Stock Exchange to form NYSE Euronext. After Intercontinental Exchange bought NYSE Euronext in November 2013, it kept LIFFE and floated the continental European exchanges as an independent Euronext in June 2014.