Over the course of 151 pages, the book follows the group’s development during the past decade, beginning with its 2014 stock market listing and culminating in its emergence, by 2024, as Europe’s leading listing venue and largest pool of liquidity.
The final chapter, titled “What’s Next?”, portrays Euronext as an organization “reborn from its ashes,” one that has transcended the traditional stock-exchange model to become a multi-layered market infrastructure with global ambitions. With nearly 1,900 listed companies and a market capitalization of €6.5 trillion as of June 2024, the group embodies—according to the authors—the vision first set out by Jean-François Théodore, Olivier Lefebvre, and Georg Möller: the unification of Europe’s financial markets on shared infrastructure, guided by a federal logic and a unified strategic direction.
The narrative also emphasizes Euronext’s technological orientation. The group is developing new platforms designed for the markets of the future, all while remaining committed to the broader objective of European strategic autonomy. “Above all,” the book notes, “Euronext is determined to be the place where creative and ambitious people come together to shape the next 25 years.”
Today, Euronext has completed its acquisition of the Athens Stock Exchange—an event that now makes an updated edition almost inevitable. ATHEX’s incorporation into the group, again under the leadership of Stéphane Boujnah, adds another piece to Euronext’s expanding geographical and strategic footprint.
An updated version would also be of particular historical interest in documenting how the Greek government, and especially the Minister of National Economy and Finance, Kyriakos Pierrakakis, contributed—both through legislation and operational support—to the process that enabled Euronext to secure 74.25 percent of ATHEX’s shares. Inevitably, attention will now turn to how Euronext intends to proceed in its effort to acquire the remaining shares from those who chose not to participate in the public offer.
