ICE Confirms Euronext IPO Details
ICE's plans to spin off Euronext into a separate company have been hinted at since the acquisition was first announced in 2012, in which ICE also acquired the historic equities exchange and the London-based derivatives venue Liffe, both of which it will retain.
Euronext's ordinary shares will be listed on Euronext Paris, Euronext Amsterdam and Euronext Brussels, while it will also list on Euronext Lisbon after the IPO. The firm has apparently been separated from ICE since the acquisition, and the technology services it provides to Liffe will be terminated once the venue moves to ICE's platform in short order. Euronext London, another venue in the group, has applied for recognized investment exchange (RIE) status from the UK Financial Conduct Authority.
"We are very pleased to announce the IPO of Euronext. We believe that Euronext, as a leader in Europe, should operate independently and in the interests of its customers and local economies," says Jeffrey Sprecher, chairman and CEO at ICE. "Today marks an important step in that direction and is the result of significant work by our team. We will continue to work closely with our market regulators to ensure a smooth transition to independence for Euronext."
ING and Morgan Stanley are acting as joint bookrunners, with Goldman Sachs, ABN Amro Bank and Société Générale as joint global coordinators. One third of Euronext will be placed for institutions ahead of the general offering.
In related news, ICE recently announced the accelerated retirement plans of Duncan Neiderauer, CEO at the NYSE.
Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.
To access these options, along with all other subscription benefits, please contact info@waterstechnology.com or view our subscription options here: http://subscriptions.waterstechnology.com/subscribe
You are currently unable to print this content. Please contact info@waterstechnology.com to find out more.
You are currently unable to copy this content. Please contact info@waterstechnology.com to find out more.
Copyright Infopro Digital Limited. All rights reserved.
You may share this content using our article tools. Printing this content is for the sole use of the Authorised User (named subscriber), as outlined in our terms and conditions - https://www.infopro-insight.com/terms-conditions/insight-subscriptions/
If you would like to purchase additional rights please email info@waterstechnology.com
Copyright Infopro Digital Limited. All rights reserved.
You may share this content using our article tools. Copying this content is for the sole use of the Authorised User (named subscriber), as outlined in our terms and conditions - https://www.infopro-insight.com/terms-conditions/insight-subscriptions/
If you would like to purchase additional rights please email info@waterstechnology.com
More on Trading Tech
Systematic tools gain favor in fixed income
Automation is enabling systematic strategies in fixed income that were previously reserved for equities trading. The tech gap between the two may be closing, but differences remain.
Waters Wrap: Examining the changing EMS landscape
After LSEG’s decision to sunset Redi, Anthony examines what might lie ahead for the EMS space.
This Week: Clear Street, AXA/AWS, TD Bank/Google Cloud and more
A summary of the latest financial technology news.
LSEG to sunset Redi EMS in favor of Tora
Sources say competitors will look to seize on the decision to win over Redi’s sizeable US client base.
WatersTechnology latest edition
Check out our latest edition, plus more than 10 years of our best content.
Getting aggressive: Overbond uses AI to assess dealer axes
The fixed-income analytics specialist has developed a new tool to help buy-side firms decide if they’re getting a good price from their dealers.
TS Imagine integrates LTX’s pre-trade analytics tool
Users of the fixed-income EMS will now have access to LTX’s Liquidity Cloud tool, which provides a pre-trade score for the likelihood of trading success.
Most read
- Sell-Side Technology Awards 2024: All the winners
- Sell-Side Technology Awards 2024: Best sell-side front-office platform—Bloomberg
- Deutsche Börse democratizes data with Marketplace offering