European exchange operator Euronext said it will deliver an additional €20 million in cost savings as it refocuses its strategy as an independent company.

The Paris-based exchange group, which demerged from IntercontinentalExchange in June, had at the time of its listing committed to deliver €60 million in cost savings over the following three years. In November it announced that it would deliver the cuts ahead of schedule, by the end of the first half of this year. On Wednesday it said it expects to deliver an extra €20 million by the end of 2016.