Euronext has taken a significant step towards establishing a pan-European Support and Technology Center in Athens, a move that highlights the Greek capital’s evolving role within the Group’s European financial and technology ecosystem. The initiative was formalized with the incorporation of a new subsidiary in Greece by the Dutch entity Euronext IP & IT Holding BV.
Euronext Technologies Greece: A New Era for Athens
The newly established company, Euronext Technologies Greece, is headquartered in the Athens Stock Exchange building and was incorporated with a share capital of €25,000. This strategic decision positions Athens as a key technology hub within Euronext’s federated infrastructure.
Euronext Technologies Greece’s mandate is extensive, covering a wide array of information and communication technology services. These include the design, development, implementation, and maintenance of IT systems and applications, as well as providing technical support and advisory services related to software, systems, and digital infrastructure. The company will also be responsible for managing and exploiting intellectual property assets, such as software, source code, licenses, know-how, and databases.
Leadership and Strategic Importance
The new subsidiary will be jointly managed by two senior Euronext executives: Group Finance Director Bernard Holsboer and Group Chief Operating and Information Officer Manuel Bento. Their involvement underscores the strategic importance Euronext places on this initiative and Athens’ role within the Group’s operations.
Athens: A Critical Role in Euronext’s Pan-European Model
In responses provided to Dnews.gr, Euronext confirmed that Athens was selected after a thorough strategic assessment of its potential contribution to the Group’s pan-European operating model. The city is expected to play a critical role in supporting core market systems deployed across multiple jurisdictions.
The Support and Technology Center is scheduled to commence operations in 2026. It is designed to complement, rather than replace, the existing activities of the Athens Stock Exchange, thereby reinforcing Euronext’s technology footprint in Greece under its federal model.
Commitment to Greece and Local Talent
Euronext emphasized that the creation of the new subsidiary does not signify a spin-off or a transfer of functions from the Athens Stock Exchange. Instead, it reflects a broader commitment to investing in Greece by leveraging local talent and technological capabilities to meet group-wide operational needs.
While the Group continuously evaluates how best to organize its resources across markets, Euronext has made it clear that there are no plans to alter the current operating model of the Athens Stock Exchange, which it considers a core pillar of its federated structure.
This move by Euronext is expected to further solidify Athens’ reputation as an emerging financial and technology hub in Europe, attracting further investment and fostering innovation in the region.
Source: https://www.dnews.gr/eidhseis/news-in-english/573750/euronext-establishes-technology-subsidiary-in-athens-signaling-strategic-hub-role
