Euronext completed its 4.4 billion euro ($5.34 billion) purchase of Borsa Italiana from the London Stock Exchange Group on Thursday.
The step was initially announced in October and was approved by European regulators in March.
Euronext, a European exchange company, restructured its leadership in January in anticipation of the Italian group’s takeover.
Euronext CEO Stéphane Boujnah said on Thursday that “the substantially expanded Group is now positioned as Europe’s leading venue for listing and secondary markets for debt and equity financing.”
Additionally, Euronext diversifies its market by adding new capabilities in fixed income trading and clearing,” he explained.
Euronext’s data center will be located in Bergamo, Italy, and is expected to open in 2022.
Euronext said in a statement that the migration is being prepared in response to a number of factors, including the acquisition of the Borsa Italiana Group, the dynamic generated by Brexit, and a compelling case for locating the Group’s core data center in a country where Euronext has a significant company.
Borsa Italiana posted Thursday that its first-quarter revenue remained steady at 124.1 million euros. Euronext, on the other hand, posted a 5% increase in sales to 249.2 million euros for the same period.