Ubizen, the Belgian internet security company, has become the first tech company in Europe to seek a secondary listing on Euronext, the merger between the exchanges in Paris, Amsterdam and Brussels which was launched last week.

Ubizen, formerly known as NetVision, is currently listed on Easdaq, where it has a market capitalisation of €1.1bn ($961m). The decision to take a dual listing on Euronext will set alarm bells ringing at Easdaq, because of the risk that its Belgian, Dutch and French companies may defect to a much larger technology market within Euronext.