Log in
E-mail
Password
Show password
Remember
Forgot password ?
Become a member for free
Sign up
Sign up
New member
Sign up for FREE
New customer
Discover our services
Settings
Settings
Dynamic quotes 
OFFON

DEUTSCHE BÖRSE AG

(DB1)
  Report
SummaryQuotesChartsNewsRatingsCalendarCompanyFinancialsConsensusRevisions 
SummaryMost relevantAll NewsAnalyst Reco.Other languagesPress ReleasesOfficial PublicationsSector newsMarketScreener Strategies

Euronext assessing how to cut out London Stock Exchange clearing

07/29/2021 | 01:16pm EDT
FILE PHOTO: The coronavirus disease (COVID-19) outbreak, in Paris

LONDON (Reuters) - Pan-European financial markets operator Euronext said on Thursday it has begun assessing how to cut reliance on a London Stock Exchange clearing house in Paris after acquiring an alternative in Italy.

Euronext, which runs the Paris, Milan and Amsterdam stock markets among others, uses the LSE's LCH SA clearing house for its share trades, but since acquiring Borsa Italiana from the London exchange in April, it now has its own clearing house, CC&G.

Work has begun on a possible switch for customers.

"It's a work in progress to assess how much, which assets, at what pace, with which clients and in what time frame," Euronext Chief Executive Stephane Boujnah told reporters during a second-quarter results conference call.

"It's a very heavy-lifting project we are willing to implement if appropriate," he said, adding that full ownership of CC&G - Euronext owns 11.1% of LCH SA - creates new incentives for the exchange.

It is the latest sign of how the European Union wants to build "strategic autonomy" in financial services to cut reliance on London after Britain left the bloc last December.

Brussels is piling pressure on banks to shift clearing in euro derivatives, which LCH in London dominates, to Deutsche Boerse in Frankfurt.

Euronext said net income rose 5.6% to 86.6 million euros ($102.9 million) in the second quarter from a year ago, helped by consolidating Borsa Italiana into the group.

Earnings before interest, tax, depreciation and amortisation (EBITDA) rose 53.8% to 192.9 million euros in the three months, with adjusted earnings per share up 26.8% at 1.43 euros.

Borsa Italiana revenue growth was mainly driven by the "remarkable performance" of the Italian exchange's MTS fixed income platform, Euronext said.

Boujnah said MTS could capture even more trading flows from EU plans to issue bonds to finance the bloc's recovery from COVID in coming years.

Euronext will release its new strategic plan and 2024 group guidance in November.

($1 = 0.8416 euros)

(Reporting by Huw Jones; Editing by Jane Merriman and Mike Harrison)

By Huw Jones


© Reuters 2021
Stocks mentioned in the article
ChangeLast1st jan.
DEUTSCHE BÖRSE AG -0.83% 143.85 Delayed Quote.4.17%
EURONEXT N.V. -1.28% 100.1 Real-time Quote.23.33%
LONDON STOCK EXCHANGE PLC -1.31% 7851.6 Delayed Quote.-11.83%
All news about DEUTSCHE BÖRSE AG
02:57aDEUTSCHE BÖRSE : Legal & General Investment Management Lists New Exchange-Traded Fund on X..
MT
09/23AMUNDI PHYSICAL METALS PLC : Final Terms -15-
DJ
09/23AMUNDI PHYSICAL METALS PLC : Final Terms -11-
DJ
09/23AMUNDI PHYSICAL METALS PLC : Final Terms -4-
DJ
09/23AMUNDI PHYSICAL METALS PLC : Final Terms
DJ
09/22PRESS RELEASE : publity AG successfully sells eight properties for 'publity Performance Fo..
DJ
09/22London Stock Exchange calls time on CurveGlobal derivatives arm
RE
09/22DEUTSCHE BÖRSE : Börse Lists Thee New Crypto Exchange Traded Notes By VanEck
MT
09/21AMUNDI PHYSICAL METALS PLC : Final Terms -4-
DJ
09/21AMUNDI PHYSICAL METALS PLC : Final Terms
DJ
More news
Analyst Recommendations on DEUTSCHE BÖRSE AG
More recommendations
Financials
Sales 2021 3 475 M 4 077 M 4 077 M
Net income 2021 1 182 M 1 387 M 1 387 M
Net Debt 2021 2 813 M 3 300 M 3 300 M
P/E ratio 2021 22,6x
Yield 2021 2,21%
Capitalization 26 620 M 31 240 M 31 231 M
EV / Sales 2021 8,47x
EV / Sales 2022 7,74x
Nbr of Employees 9 674
Free-Float 96,6%
Chart DEUTSCHE BÖRSE AG
Duration : Period :
Deutsche Börse AG Technical Analysis Chart | DB1 | DE0005810055 | MarketScreener
Technical analysis trends DEUTSCHE BÖRSE AG
Short TermMid-TermLong Term
TrendsBearishNeutralNeutral
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus OUTPERFORM
Number of Analysts 20
Last Close Price 145,05 €
Average target price 161,41 €
Spread / Average Target 11,3%
EPS Revisions
Managers and Directors
Theodor Weimer Chief Executive Officer
Gregor Pottmeyer Chief Financial Officer
Martin Jetter Chairman-Supervisory Board
Christoph Böhm Chief Operating & Information Officer
Mareike Sich Head-Financial, Corporate & IT
Sector and Competitors