Euronext N.V. is a pan-European exchange group that owns and operates regulated stock exchanges across the euro area, together with their associated post-trade infrastructure. It runs cash equities, ETF, bond and derivatives trading, plus listing services for companies raising capital, across markets in France, the Netherlands, Belgium, Ireland, Portugal, Italy, Norway and, since late 2025, Greece. Its registered office is in Amsterdam, with operational headquarters in Paris. Where a typical national exchange runs a single market, Euronext's model is federated: each acquired exchange (Borsa Italiana, Oslo Bors, Euronext Dublin, the former Athens Stock Exchange) keeps its own listing base and local regulatory relationship but trades on Euronext's shared order book technology, giving issuers and members one connectivity setup and rulebook across markets. The group also owns the post-trade layer outright rather than outsourcing it: Euronext Clearing, headquartered in Rome and formerly Borsa Italiana's CC&G, provides central counterparty clearing, and Euronext Securities operates central securities depositories in several of its markets, so Euronext captures listing, trading, clearing and settlement revenue on the same trade. Beyond cash equities it runs MTS, a fixed income trading platform for European government and corporate bonds, Euronext FX for OTC spot foreign exchange, and holds a majority stake in Nord Pool, the Nordic and Baltic power exchange, plus Fish Pool for salmon futures, diversifying its revenue beyond pure trading volumes. Euronext was formed on 22 September 2000 from the merger of the Amsterdam, Brussels and Paris stock exchanges; Euronext Dublin, Euronext Lisbon, Oslo Bors (acquired 2019) and Borsa Italiana (acquired from London Stock Exchange Group in 2021 for 4.4 billion euros) joined over the following two decades. In November 2025 Euronext acquired a stake of roughly 74% in the Athens Stock Exchange through a voluntary share exchange offer, completing the rebrand to Euronext Athens, Euronext Clearing Athens and Euronext Securities Athens in April 2026; the group now counts over 1,800 listed issuers and roughly 7 trillion euros in combined market capitalisation across its eight markets. For full year 2025, Euronext reported revenue and income of 1,823.2 million euros, up 12.1%, and net income of 642.9 million euros. Stephane Boujnah has been chief executive and chairman of the managing board since 2015. The Athens integration is Euronext's most recent expansion and extends its footprint into Southeastern Europe for the first time; the company itself is listed on its own Paris market. In May 2026 Euronext's board began a succession process for Boujnah's eventual replacement, without setting a departure date, following a decade in which he led the run of acquisitions that built the group's current footprint.
