Acquisitive Euronext CEO not dismissing Trayport

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The operator of stock market throughout Europe is starving for more offers

Exchange operator Euronext is still on the hunt for acquisitions that can diversify its sources of earnings.

Stéphane Boujnah, chairman and president, informed experts on a call that Euronext will think about chances as they emerge and, when asked, did not eliminate a move for the energy trading software application supplier Trayport.

Trayport is being offered by Atlanta-based Intercontinental Exchange, which has been informed to divest the company by UK competitors authorities.

Boujnah stated: “The tactical goal of Euronext in regards to external development is to diversify its topline. For that reason we are taking a look at any chance that our company believe makes good sense in regards to evaluation and tactical fit, the impact which is to permit us to participate in brand-new non-transaction driven organisations and possession classes. We will think about those chances as they come.”

Euronext is on an acquisitive streak.

Previously this month, it purchased a 60% stake in iBabs, a Dutch company that uses executive services to make conferences and governance more effective, for EUR30.1 m. That followed the acquisition of a 90% stake in currency exchange FastMatch in May for a preliminary $153m. Prior to the iBabs offer, Boujnah had informed Bloomberg that Euronext might invest approximately EUR2bn on acquisitions.

The expert call followed Boujnah hailed Euronext’s “greatest quarter” since its going public in June 2014. He stated that higher financier cravings and an “enhanced” monetary and political outlook for the European Union owned volumes in the 2nd quarter back to 2015 levels.

Euronext, which runs exchanges in Paris, Amsterdam, Brussels, London and Lisbon, stated net revenues increased to EUR53.9 m in the 3 months to June 30, up from EUR49.3 m in the very same quarter a year previously.

Second-quarter profits increased 3.8% to EUR137.3 m, compared to the very same duration a year previously, while money typical everyday volumes increased 18.5% and equity derivatives typical everyday volumes were up by 27%.