Speaking as he announced second quarter revenue up 12.8% to €465.8m (£402m), Euronext chief executive and chairman of the managing board Stephane Boujnah said his firm has now acquired Nasdaq’s Nordic power futures business, the US group’s last remaining commodity market.

Boujnah told an earnings call: “We are co-operating very proactively with Nasdaq who are organising the transition of all the market participants to the new platform that will be operated in the NordPool environment with clearing by Euronext Clearing.”

Euronext, which operates exchanges in Paris, Amsterdam, Milan, Brussels, Oslo, Lison and Dublin, agreed in January a deal to acquire the Nordic power futures business for an undisclosed fee, subject to regulatory approval.

The European group said at the time the migration of the futures from Nasdaq to Euronext will take place in the first half of next year, but Boujnah said on Thursday this will now take place in “Q1 2026”.

He told the earnings call: “Some final details will depend on the mechanics of the migration but the deal is complete.”

Euronext’s acquisition of the power business marks a significant step for the European group which bought in early 2020 Oslo-based power market NordPool.

Nasdaq’s Nordic power futures traded 20,364 lots last month, according to FOW Data, having hit a three year high of 27,122 lots in January this year.

Deutsche Boerse-owned European Energy Exchange, which also offers Nordic power futures contracts, waived in June last year its fees for Nordic power derivatives one day after terminating its own deal to buy the Nordic power futures business from Nasdaq.

Boujnah’s comments came as he announced group revenue for the three months to the end of June up 12.8% on the same period last year.

Euronext’s fixed income, currency and commodities (FICC) segment was the firm’s top performer last quarter, reporting revenue up a fifth to €87.7m.

Anthony Attia, Euronext’s global head of derivatives and post-trade, told FOW this month: “We are preparing our expansion in European repo clearing which started with the launch of the Repo Foundation milestone in June.”

Euronext also plans to launch on September 22 mini-interest rate futures, which will be the European group’s first bond futures products.