Euronext has no plans to copy rivals with cloud computing deal | – #Euronext #plans #copy #rivals #cloud #computing #deal
LONDON, February 9 (Reuters) – Pan-Europe Stephane Boujnah, the exchange’s chief executive, said Euronext would not follow suit by moving critical services to external cloud computing amid regulatory concerns.
London Stock Exchange Group, CME and Nasdaq announced partnerships with cloud computing giants such as Alphabet, Amazon and Microsoft, and Deutsche Boerse on Thursday Google joined them within the framework of “strategic partnership”.
Boujnah told Reuters on Thursday: “Microsoft, Google and one of the reasons we are cautious about using Amazon’s data centers for critical parts of what we do is because our key controllers and regulators themselves are very cautious.”
Euronext only uses a cloud provider to store historical data, he said.
“When it comes to strategic applications such as real-time data and market operations, we do not want them to be stored and managed by decision-making centers outside the EU and by data centers of companies with physical infrastructure. EU,” added Boujnah.
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Euronext said earlier on Thursday that it has postponed its weekly report on its derivatives positions until further notice as it continues to fend off a ransomware attack on financial data firm ION Group outside the bloc.
“We are analyzing the dependence on certain providers very carefully,” Boujnah said when reporting Euronext’s full-year earnings.
Earlier this week, the Bank for International Settlements said it needed a “rethink” to regulate finance’s growing dependence on outside parties such as cloud firms, which new EU rules will address.
Euronext, record revenue for 2022 and 1,418 billion euro (1.52 billion dollars) reported revenue that was 9.3% higher than in 2021 due to the consolidation of the acquisition of Borsa Italiana.
Adjusted earnings per share in 2022 fell 4.8% to €5.21 due to an increase in share count and the company plans to pay a dividend of €2.22 per share. offer does.
Euronext has increased its annual pre-tax savings by 15 million euros to 115 million in 2024 related to the integration of Borsa Italiana, of which approximately 70 million will be achieved by the end of 2023, as execution costs remain unchanged, he said.
The savings are nearly double what was promised at the beginning of the contract.
“This further demonstrates Euronext’s successful track record in integrating acquired companies,” said Boujnah.
($1 = 0.9307 euros)
By Huw Jones report; Edited by Alexander Smith
Our standards: Thomson Reuters Trust Principles.
2023-02-10 00:36:07
Source – reuters
Translation“24 HOURS”