Euronext, agreement with trade unions in Italy: employment stability and 2,000 euro bonus

In the Euronext 2024-2027 strategic plan, the group will consolidate its activities in Europe and Italy. This will entail investments along the entire capital markets value chain in Italy, particularly in Listing, Trading, Clearing, Settlement and related services. And also on the people, so much so that just yesterday an important agreement was reached with the trade unions (Fabi, First, Fisac, Uilca and Unisin) that puts an end to the state of agitation that began last June and culminated in the first strike and the start of a table at Mimit.

In particular, the trade union agreement provides for a commitment to maintain employment, a new highly articulated scheme on working hours so as to favour work-life balance, and to provide for an average increase in the remuneration of the various forms of work performed beyond standard working hours. Also agreed was the recognition of a one-off bonus of EUR 2,000, of which EUR 1,000 in cash and EUR 1,000 in welfare, and that supplementary health care be maintained with the same amounts for another four years.

In a note Euronext details 'significant investments since Borsa Italiana joined the Group'. These include 'the migration of the core data centre in Bergamo, Italy, in 2022, which now processes 25 per cent of equity trading in Europe, the expansion of the Optiq trading platform, connecting Italian markets to the largest liquidity pool in Europe,' the note reads. In addition, 'full control of the technology and future developments in Europe and Italy will be maintained, as evidenced by the acquisition of MTS technology and Euronext Securities Milan from Nexi, and there will be the strengthening of Euronext Securities Milan and the acquisition of shareholder registry and tax services and the positioning of Euronext Clearing in Rome as a clearing house for the equity, derivatives and commodities markets in Europe,' the note continues. All these investments also have an employment implication: Euronext has in fact increased employment in Italy, with over 100 new positions, and aims to keep its employment levels in our country at least stable by focusing on organic growth.

With the agreement reached, the state of agitation has been lifted, explains Sergio Castoldi of Fabi, who emphasises the achievement of 'a fundamental result for the future of this group'. For Gabriele Poeta Paccati of Fisac CGIL, these are 'three excellent agreements that meet the needs of employees and open the door to a season of fruitful labour relations'.