Euronext, Europe’s largest exchange, has inked a new partnership agreement with Tredzone, a provider of technology solutions dedicated to developing software tools and data management, simultaneously taking a 34% stake in the group, per a Euronext statement.
Euronext has been one of the more active venues on the continent in recent months, having embarked on a number of memorandums of understanding (MoU) and partnerships with several regional and international entities, including many in China. Its decision to bolster its strategic partnership with Tredzone will allow for a symbiotic exchange between the two groups.
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Data and Innovation Driving the Accord
More specifically, Tredzone will benefit from Euronext’s technology infrastructure across the continent, while the partnership will help Euronext benefit from future developments made by Tredzone. Tredzone’s service suite specializes in the handling of complex data with high volumes and latency.
In addition, Euronext will rely on Tredzone’s technology by using it to develop its next generation trading platform Optiq. The partnership will also see both enter into a more structured collaboration, culminating in Euronext making a capital increase of €1.36 million, consequently resulting in a 34% stake in Tredzone.
The agreement is important to both parties, especially Eurozone, which will leverage Tredzone’s software development tools to help facilitate its multi-core processing capabilities. Euronext hopes the agreement will foster substantial savings in use of hardware, whereby simplifying and securing its IT infrastructure.