PARIS, 18-3-2014 — /EuropaWire/ — Euronext, a wholly owned subsidiary of IntercontinentalExchange Group (NYSE: ICE), today announced that it has successfully signed agreements with four exchanges in the Middle East and North Africa (MENA) region for the implementation of its new UTP solution, UTP-Hybrid.
The four exchanges, the Amman Stock Exchange, the Beirut Stock Exchange, Bourse des valeurs Mobilieres de Tunis and the Muscat Securities Market, all long-standing and valued clients of Euronext, will benefit from customization, project delivery and ten years of support. The project will include the replacement of the NSC® trading platform, support for which will be discontinued from a commercial perspective in 2015.
The MENA region has an increasingly sophisticated financial markets industry with exchanges looking for a cost-effective, high performance platform to support growth in equities or entry into new asset classes. UTP is a multi-asset class, multi-currency trading platform providing complex functions for low-latency markets. It is the core technology that Euronext uses to operate its single order book model throughout Europe. This agreement provides these four exchanges with the benefits of Euronext’s investment in UTP packaged into a low risk, high-performance solution with a long term support commitment. In this way, UTP-Hybrid meets the cost-effectiveness needs of smaller exchanges while still offering the liquidity generating functions needed for their future growth in equity and derivative markets.
Dominique Cerutti, Chief Executive Officer of Euronext, said, “This is an important development for Euronext and demonstrates our commitment to a strategic relationship with these four exchanges. Using technology to bring MENA markets closer together helps promote the region and generate growth in its local economies. We look forward to working with our clients on business and technology initiatives that will build closer ties with European investors and help develop markets in the MENA region.”
Caroline Nico (Europe) : +33 1 49 27 10 74 ; email@example.com
Alice Jentink (Amsterdam) : +31 20 550 4488 ; firstname.lastname@example.org
Jean-Yves Daxhelet (Brussels) : +32 2 213 13 00 ; jean-Yves.Daxhelet@interelgroup.com
Sandra Machado (Lisbon) : +351 217 900 029 ; email@example.com
Caroline Tourrier (Paris) : +33 1 49 27 10 82 ; firstname.lastname@example.org
Euronext is the primary exchange in the Euro zone with over 1 300 issuers worth €2.6 trillion in market capitalization, an unmatched blue chip franchise consisting of 20+ issuers in the EURO STOXX 50® benchmark and a strong diverse domestic and international client base.
Euronext operates regulated and transparent equity and derivatives markets. Its total product offering includes Equities, Exchange Traded Funds, Warrants & Certificates, Bonds, Derivatives, Commodities and Indices. Euronext also leverages its expertise of running markets by providing technology and managed services to third parties. Euronext operates regulated markets, Alternext and the Free Market; in addition it offers EnterNext, which facilitates SMEs’ access to capital markets.
Euronext is a wholly owned subsidiary of IntercontinentalExchange Group (ICE).
About IntercontinentalExchange Group, Inc.
IntercontinentalExchange (NYSE: ICE) is the leading network of regulated exchanges and clearing houses for financial and commodity markets. ICE delivers transparent, reliable and accessible data, technology and risk management services to markets around the world through its portfolio of exchanges, including the New York Stock Exchange, ICE Futures, Liffe and Euronext.
Trademarks of ICE and/or its affiliates include IntercontinentalExchange, ICE, ICE block design, NYSE Euronext, NYSE, New York Stock Exchange, LIFFE and Euronext. Information regarding additional trademarks and intellectual property rights of IntercontinentalExchange Group, Inc. and/or its affiliates is located at https://www.theice.com/terms.jhtml and http://www.nyx.com/terms-use.
Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995 – Statements in this press release regarding ICE’s business that are not historical facts are “forward-looking statements” that involve risks and uncertainties. For a discussion of additional risks and uncertainties, which could cause actual results to differ from those contained in the forward-looking statements, see ICE’s Securities and Exchange Commission (SEC) filings, including, but not limited to, the risk factors in ICE’s Annual Report on Form 10-K for the year ended December 31, 2013, as filed with the SEC on February 14, 2014.