Euronext : Preview Q3 2023; a decent quarter given the market backdrop
>Trading activity remained soft across most asset classes during Q3 2023 - For Q3 2023, consensus forecasts total trading revenue of € 116.4m (vs AAOBe: € 116.4m), which is a 1.2% decline YoY and down 1.5% QoQ. Consensus expects cash trading to reach € 63.1m in Q3 2023. However, in the mix, cash trading slowed the most (-6.2% YoY, 3.2% QoQ), which is a good reflection of softening capital markets. That said, we believe ENX managed its KPIs well in the trading business...Euronext is a cross-border exchange. Co. operates combined regulated markets across Belgium, France, the Netherlands, Portugal and the United Kingdom (derivatives only). Co. offers a range of integrated services including the listing of financial instruments, trading in securities and derivatives, clearing, netting and settlement, market data dissemination and IT solutions and support. Co.'s customers include listed companies, members, institutional and individual investors who trade on Co. markets, other organizations, notably exchanges that use its technologies and services, and users of the financial and information generated by market activity.
Oddo Securities provides securities brokerage and research services. The company offers equity, economic, and derivatives research and credit analysis services. It focuses on insurance, automotive, building materials, pharmaceuticals, telecommunications, information technology, and agri-food industries.
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