Planned migration takes place alongside the move of Euronext’s data centre from the UK to Italy and the migration of its clearing operations to the Bloc.
The exchange operator is planning to migrate the clearing of its Euronext derivatives markets to its internal clearing house by the third quarter of 2024.
The Italian deal drove a 27% growth of trading revenue and contributed €337.7 million to the exchange operator’s full year income.
Under the terms of the transaction, the London Stock Exchange Group (LSEG) has sold Borsa Italiana to Euronext for a cash total of €4.4 billion.
The $27 billion acquisition of data and analytics giant Refinitiv was completed by LSEG in January earlier this year.
The pan-European exchange has subsequently reshuffled the leadership of its Paris business in preparation for the completion of the deal.
Delphine d’Amarzit joins Euronext Paris as chief executive, replacing Anthony Attia who will become global head of primary markets and post-trade at a group level at Euronext.
The European Commission’s approval under the EU Merger Regulation takes the London Stock Exchange Group one step closer to its mammoth $27 billion Refinitiv take-over.
More than 99.9% of shareholder votes cast at the Euronext general meeting were in favour of its proposed takeover of LSEG’s Borsa Italiana.
The sale of LSEG’s Borsa Italiana business is dependent on approval from the European Commission on the exchange group's Refinitiv acquisition.