Brexit: the City loses the battle of European equities trading

Posted on Jan 5, 2021, 12:11 PMUpdated Jan 5, 2021, 6:03 PM

The shock is severe for the City. On Monday, from the first day of market activity after the entry into force of Brexit, almost all of the volumes on European equities that were made in London were transferred to the continent. A small revolution, when we know that 30% of transactions in the securities of European companies were held until then in the City.

Alasdair Haynes, head of the electronic exchange Aquis, confirmed to Bloomberg that 99.6% of transactions in European listed companies had moved from his London platform to his Paris platform. At Cboe Europe, which concentrates 22% of transactions in European equities, 90% of the volumes left the City for Amsterdam, and 92% for Turquoise, a subsidiary of the London Stock Exchange, which also presents an alternative offer, in the Nederlands. In all, nearly 6 billion euros in transactions were transferred to European markets in a single day.

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