Euronext has today completed the €137m acquisition of the Irish Stock Exchange, after receiving regulatory approvals.

The Irish Stock Exchange is joining Euronext's federal model and will operate under the business name Euronext Dublin, with Ireland becoming one of the six core countries of Euronext.

Deirdre Somers has been appointed the chief executive of Euronext Dublin and will join the managing board of Euronext.

The combined group is now the largest centre for debt and funds listings in the world, with more than 37,000 listed bonds and 5,600 funds.

It is also a major player in Exchange Traded Funds with 1,050 listings. This will pave the way for future value creation for its shareholders and stakeholders.

Deirdre Somers, CEO of Euronext Dublin, said today marked an historic day for Irish capital markets. 

"We are excited to be part of the Euronext federal model and the opportunities that it delivers to listed companies and Irish enterprises to access wider pools of international capital and corporate services," Ms Somers said.

"As the only pan-European exchange operator, Euronext is uniquely positioned to welcome independent exchanges such as the Irish Stock Exchange, now Euronext Dublin, that want to join its federal model and benefit from its single cross-country liquidity pool, its state-of-the-art proprietary technology, and its single rule book," commented Stéphane Boujnah, CEO and chairman of the Managing Board of Euronext.

"We have a strong growth plan for our new combined group, to strengthen our leadership in debt and funds listings, and to be the entry point for ETF growth, while generating synergies through the integration of Euronext Dublin," the CEO. 

"This significant extension of the federal model will also reinforce Euronext's post-Brexit strategic position and allow the Group to capture growth opportunities that arise, with a disciplined M&A approach."

The financial institutions which owned the ISE - J&E Davy, Goodbody Stockbrokers, Investec Capital and Investments, Cantor Fitzgerald and Campbell O’Connor - all committed to sell their shares under the deal which was first announced in November.