Prague Stock Exchange acquires stake in STYRAX

The Prague Stock Exchange announces the acquisition of a 34% stake in STYRAX, a company specializing in the design and development of modern IT solutions, particularly for the financial and healthcare markets.

STYRAX has strong technological know-how and an experienced development team. In the past, this team has also participated in the development of a platform for government savings bonds and the DLT registry of the Central Securities Depository (CSD), one of the key digitization projects of the Czech capital market.
The aim of the acquisition is to further strengthen the IT capacities of the Prague Stock Exchange Group, enhance technological self-sufficiency, and gain greater flexibility in the development of new applications and digital solutions for the financial sector. The acquisition will enable more effective development of innovative projects that respond to the needs of the market, regulations, and clients.
The acquisition was carried out in line with the joint strategy of the Prague Stock Exchange Group and the Vienna Stock Exchange, which aims to build a strong IT base for the development of financial and fintech applications. This strategy emphasizes the concentration of cutting-edge technological know-how, capacity sharing, and support for innovation across the Central European region.
"Technology plays a key role in the further development of the capital market today, and we want to continue to be intensively involved in the development of the capital market in this sense. We see joining STYRAX as a strategic step that fits into our broader cooperation with our foreign partners and will allow us to strengthen our own IT competencies, accelerate innovation, and respond more effectively to new challenges in the digitization of the financial sector," said Petr Koblic, CEO of the Prague Stock Exchange.

"Cooperation with the Prague Stock Exchange and its foreign partners represents a significant confirmation of STYRAX's technological capabilities and long-term strategic vision. The capital injection opens up opportunities for further development of our product portfolio, systematic strengthening of our team of experts, and active involvement in key projects that contribute to the development of modern capital market infrastructure and the fintech ecosystem," said Petr Ulč, Chairman of the Board of Directors of STYRAX, a.s.

Ondřej Dusílek, CEO of the Central Securities Depository, who will represent the Prague Stock Exchange as Vice-Chairman of the Board of Directors of STYRAX, also commented on the importance of the cooperation:
"The DLT registry project of the Central Securities Depository has shown that a combination of in-depth knowledge of financial infrastructure and cutting-edge technological development can bring about concrete and functional innovations. We now want to further develop and utilize the experience we have gained through this cooperation in creating new digital solutions for the capital market in the Czech Republic and throughout the CEE region. We believe that our experience and knowledge of the financial market will also help STYRAX acquire new clients and offer existing ones even better service and the guarantee of a trustworthy IT partner."

STYRAX will therefore retain its operational independence and continue to develop technological solutions for both the BCPP Group and its other clients.