Euronext has posted record results for the second quarter of 2025, with revenue and income up by 12.8% year-on-year to €465.8 million.
In particular, the exchange put the increased revenue down to organic growth, high market volatility and strategic expansions, with the results constituting the fifth consecutive quarter of double-digit growth.
Non-volume related revenue accounted for 58% of the quarter’s total revenue, with areas such as capital markets and data solutions revenue seeing a 12% increase to €165.4 million – a result linked to strong performance across the exchange’s corporate and investor solutions and technology services, as well as the acquisition of Admincontrol on 13 May.
Similarly, high market volatility, particularly in the first part of the quarter, also boosted volume-related revenue.
Fixed income trading and clearing revenue noted record activity over the course of the quarter, up 31.9% and totalling €51.7 million, compared to €39.2 million in the same quarter in 2024.
The exchange pointed towards favourable market conditions as a key driver for the strong revenues.
Similarly, Euronext attributed the 18.9% growth of FX trading to €9.3 million to record trading volumes in April 2025, stating that the results outbalanced the impact of the USD during this period.
Meanwhile, the exchange reported a robust quarter in cash equity trading, with average daily volumes recorded at €13.4 billion, marking an increase of 21.2% compared to Q2 2024.
The exchange also reported that net income was up 29.7% to €183.8 million, an increase by €42.1 million compared to the same period last year.
On the other hand, derivatives trading saw a marked decrease compared to the same quarter last year, constituting a 22.9% decline from €16.6 million in Q2 2024, to €12.8 million in Q2 2025.
The exchange attributed this to lower volatility and a decrease in the average clearing fees.
Stéphane Boujnah, chief executive and chairman of the managing board of Euronext, pointed towards the key drivers of the exchange’s results.
“The strong performance reflects the strength of Euronext’s diversified business model, capable of capturing favourable market conditions and of generating non-volume-related revenue growth.”
Boujnah also put the strong quarterly results in part down to the exchange’s recent government bond coverage developments across Europe, following the expansion of its repo offering across the continent in July.
“We continue to foster the integration and competitiveness of European capital markets via strategic initiatives. With a strong footprint in Italian repo, a growing list of government bond coverage, and the majority of key clearing members already connected, Euronext is well positioned to become the clearing house of choice for European repo.”
The exchange group’s results follow developments such as the recent submission of a voluntary share exchange Hellenic Exchanges – Athens Stock Exchange (ATHEX), expanding footprint in the Nordics, partnerships with Euroclear and Clearstream and the upcoming launch of fixed income mini futures on European government bonds scheduled for September.
Boujnah added: “We have expanded our presence in the Nordics with the acquisition of Admincontrol and will further strengthen our position with the migration of Nasdaq Nordic’s power futures to Euronext Clearing in Q1 2026.
“The contemplated acquisition of ATHEX would expand our integrated model across Europe to deliver the Savings and Investments Union. We are strongly committed to boosting the development and attractivity of Greek markets internationally and generating efficiencies and competitiveness across the group.”