Euronext Technology Centre drives 6% of group profits
The Euronext Group is to sell services to four new stock markets in the Middle East.
In an interview with EXAME and ECO, the Technology Centre’s director Manuel Bento said that the deal had yet to be closed and could not reveal to which countries the service contracts were being supplied.
Euronext, which owns the Lisbon Stock Market and has its Technology Centre in Porto, enjoyed revenues of €615 million in 2018 with service contracts from clients in the USA, France, Switzerland, UK, Holland, Germany, Ireland, Belgium, Portugal, Japan and Italy among others.
From the Porto Technology Centre the group manages IT operations, software development and cybersecurity. Technological solutions represent 6% of the group’s accounts.
“It represents the technological heart of the Euronext Group” a source told ECO, the centre achieving profits of €216 million with transaction commissions representing 34%, licences 19% and admission to trading at 17% as the main segments that most contributed to the results.
And of all the €615 revenues from 2018, 6% (€118.3) came from market solutions, including software licence commissions, information technology services offered to external market operators and other data related services.