Euronext FX appoints Nicolas Jégou, ex-advisor to Emmanuel Macron, as CEO

Rick Steves

Before joining Euronext FX in 2021, Nicolas Jégou worked for more than ten years on European and global economic and capital markets matters, at the French Ministry of Finance, at the European Commission, and from 2017 to 2021 at the Executive Office of the President of the French Republic.

Euronext FX has announced the appointment of Nicolas Jégou as Chief Executive Officer of the leading ECN for Spot FX and Precious Metals, which is part of Euronext Group, with operations in Amsterdam, Brussels, Dublin, Lisbon, Milan, Oslo, and Paris.

Nicolas Jégou, who joined Euronext in 2021 as CEO’s Chief of Staff and Head of Special Projects, was previously involved in public policy, having worked for more than ten years on European and global economic and capital markets matters, at the French Ministry of Finance, at the European Commission and from 2017 to 2021 at the Executive Office of the President of the French Republic.

Euronext FX reported all-time record revenues at €28.4 million in 2022

The appointment comes amid rising trading volumes at Euronext FX, which has matching engines in London, New York, Tokyo, and Singapore. Euronex FX has recently reported all-time record revenues at €28.4 million in 2022, up +21% from 2021. In 2022, average daily volumes reached USD 22.5 billion, up +17.1% compared to 2021.

The positive momentum in ECN trading and Euronext FX is caused by heightened volatility, geographic expansion, and product diversification.

Euronext operates regulated and transparent equity and derivatives markets, with a total product offering that includes Equities, FX, Exchange Traded Funds, Warrants & Certificates, Bonds, Derivatives, Commodities and Indices.

Euronext ups overall performance in 2022

Euronext confirmed the attractiveness of its primary markets activity in 2022, remaining the leading venue for equity listing in Europe and debt listing worldwide. The company operates listing venues in Amsterdam, Brussels, Dublin, Lisbon, Oslo, Milan and Paris, and is home to 1,900+ equity issuers, worth €6.4 trillion in aggregated market capitalization. As of today, Euronext is by far the largest stock market operator in Europe in terms of aggregated market capitalization. Additionally, 25% of the shares traded in Europe are traded on Euronext markets.

Full year 2022’s underlying revenue came in at €1.46 billion, up 9.3 percent from €1.14 billion the previous year, illustrating the strong performance of non-volume related business and enhanced revenue capture.

The exchange operator attributed the results to stable performance in listing and post-trade businesses, as well as the contribution of the Borsa Italiana.

Trading revenue in 2022 was higher by 10 percent on a yearly basis at €541 million, primarily driven by strong performance of FX and power trading volumes. The softer cash trading volumes from the second semester of 2022 were offset by yield management and an uptick in market share from October 2022.

Meanwhile, post-trade revenue grew 13.7 percent to €364.5 million thanks to the strong performance of the clearing activities of its Italian units and Euronext’s diversified business model. In addition, custody and settlement revenue scored a 10 percent increase to €243.1 million even though the Nordic CSDs was less dynamic reflecting notably normalised levels of retail activity.

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