Euronext has officially completed its data center migration project, moving its data infrastructure from the UK to Italy.
The stock exchange company this week announced the successful completion of the migration of its core data center and related colocation services from Basildon, UK, to the Aruba Global Cloud data center IT3 in Bergamo, Italy.
Stéphane Boujnah, Chief Executive Officer and Chairman of the Managing Board of Euronext, said: “The migration of Euronext’s core data center to Italy, 14 months after the closing of the Borsa Italiana Group acquisition, marks a milestone in bringing back to the European Union the core data center that handles 25 percent of European trading volumes.”
“I would like to thank all our teams, our clients, and our service providers for this successful project, which will benefit the whole of the financial ecosystem while helping our clients reduce their own carbon footprints,” he added.
Euronext said the new core data center is entirely powered by renewable energy, much of it self-produced through a large photovoltaic system and a hydroelectric unit. It also uses geothermal and dynamic free cooling.
Rumors surfaced that the company was considering a move in March 2021, with the company confirming the news the following April. The move was completed in 14 months, despite WatersTechnology reporting the company suffered supply chain disruption that affected hardware delivery and lengthened lead times from manufacturers.
Euronext first moved its infrastructure from Paris to London in 2011. The company was originally reported as analyzing the feasibility of transferring its data center to Italy by 2024, when its contract with the provider in Basildon expires. However, timelines were accelerated with the official announcement to 2022.
Risk.net has previously reported one of the reasons for the move is high rent demands from the landlord, Ice Data Services. IDS’ Basildon facility has seven 1,000 square meter halls. Three halls are currently in operation, according to its website, with 1MW of power per hall, expandable to 3MW as required. After the official announcement of the move, the company noted Brexit as a major factor in its move.
“The migration is being planned in response to multiple factors, including the acquisition of the Borsa Italiana Group, the dynamic created by Brexit and a strong rationale to locate the Group’s core data center in a country where Euronext operates a large business,” the company said.
Euronext CEO Boujnah later told BBC’s Marketplace the company needed a “predictable regulatory environment” and Brexit meant it had “no visibility” on the future regulatory relationship between the UK and European Union.
“Big decisions come with big consequences,” he said.
Stefano Cecconi, Aruba SpA CEO, previously told DCD he was "extremely pleased" that Euronext has chosen its facility as their next core data center provider.
“Data centers host the modern trading pit, and the Global Cloud Data Center IT3 can provide fully customized made-to-measure colocation solutions," he said.
Aruba operates three data centers in Italy and four live in total; one in Milan/Bergamo, two in Arezzo, and one in Ktiš in Czechia/Czech Republic. The company is currently developing another 30MW facility in Rome.
At full build-out, the IT3 site in Milan/Bergamo will span 200,000 sqm (2.15 million sq ft) across five buildings, totaling 60MW.
The London Stock Exchange (LSE) is also reportedly moving its data center, but will be remaining within the confines of London. LSE’s infrastructure is currently based at a fully owned and operated City of London data center but is understood to be planning for a move to a new London data center at the Telehouse facility on the Isle of Dogs by 2022. Refinitiv, a provider of financial market data and infrastructure LSE acquired earlier in the year, is reportedly due to migrate the other way; leaving its Docklands Technical Centre in Poplar to the Cyxtera LHR1 data center in Slough.
