Euronext completes the acquisition of Global Rate Set Systems

03 Jun 2024 08:00 CEST

Euronext completes the acquisition of Global Rate Set Systems

Amsterdam, Brussels, Dublin, Lisbon, Milan, Oslo and Paris – 3 June 2024 – Euronext, the leading pan-European market infrastructure, today announces that it has completed the acquisition of 75% of the share capital of Global Rate Set Systems (GRSS), a leading provider of services to benchmark administrators. In 2023 (YE March), GRSS generated NZ$14.9m (€8.6m¹) in revenue.

Euronext’s acquisition of GRSS expands and enhances its index franchise, positioning the Group as a leading player in the calculation and administration of Interbank Offered Rate (IBOR) indices. GRSS provides mission-critical services to the benchmark administrators that produce three of Europe’s critical interest rate benchmarks: EURIBOR^® (global, the world’s largest benchmark), STIBOR^® (Sweden) and NIBOR^® (Norway). GRSS also owns and operates two regulated benchmark administrators that produce CIBOR^® (Denmark) and PRIBOR (Czech Republic), and a benchmark administrator that produces the TAB, TADO and ICP indices (Chile). By partnering with GRSS and its founder, Euronext intends to strengthen GRSS’s position as the preferred provider in the contributed data and indices sector, leveraging on Euronext’s global leadership and reputation.

This acquisition contributes to the growth of Euronext’s fixed and subscription-based revenue. The acquisition does not have a significant impact on Euronext’s leverage ratio nor debt rating².

About Euronext

Euronext is the leading pan-European market infrastructure, connecting European economies to global capital markets, to accelerate innovation and sustainable growth. It operates regulated exchanges in Belgium, France, Ireland, Italy, the Netherlands, Norway and Portugal. With nearly 1,900 listed equity issuers and around €7.1 trillion in market capitalisation as of end of March 2024, it has an unmatched blue chip franchise and a strong diverse domestic and international client base. Euronext operates regulated and transparent equity and derivatives markets, one of Europe’s leading electronic fixed income trading markets and is the largest centre for debt and funds listings in the world. Its total product offering includes Equities, FX, Exchange Traded Funds, Warrants & Certificates, Bonds, Derivatives, Commodities and Indices. The Group provides a multi-asset clearing house through Euronext Clearing, and custody and settlement services through Euronext Securities central securities depositories in Denmark, Italy, Norway and Portugal. Euronext also leverages its expertise in running markets by providing technology and managed services to third parties. In addition to its main regulated market, it also operates a number of junior markets, simplifying access to listing for SMEs.

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Disclaimer

This press release is for information purposes only: it is not a recommendation to engage in investment activities and is provided “as is”, without representation or warranty of any kind. While all reasonable care has been taken to ensure the accuracy of the content, Euronext does not guarantee its accuracy or completeness. Euronext will not be held liable for any loss or damages of any nature ensuing from using, trusting or acting on information provided. No information set out or referred to in this publication may be regarded as creating any right or obligation. The creation of rights and obligations in respect of financial products that are traded on the exchanges operated by Euronext’s subsidiaries shall depend solely on the applicable rules of the market operator. All proprietary rights and interest in or connected with this publication shall vest in Euronext. This press release speaks only as of this date. Euronext refers to Euronext N.V. and its affiliates. Information regarding trademarks and intellectual property rights of Euronext is available at www.euronext.com/terms-use.

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¹ Yearly average EUR/NZD exchange rate of 1.7633
² The cashflow related to the transaction will be communicated as part of Q2 2024 results

Attachment

• 20240603_GRSS_Closing PR_VF