Sun. Feb 21st, 2021
Amsterdam overtakes City of London as Europe's share trading hub - EU Today

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                    Posted on Feb 14, 2021



                        <strong>In January, an average of €9.2 billion in shares was traded in Amsterdam per day, according to Britain's <em>Financial Times</em> (FT). That trading volume was a four-fold increase over December, the final month of the UK's Brexit transition period.</strong>

Most significantly, this statistic means Amsterdam is now the largest European centre for equity trading.

Turquoise, a trading platform, moved because Brussels does not grant the British stock exchange regulator the same status after Brexit as regulators in the European Union. In other words, the EU and the UK do not recognise each other’s rules.

Without a so-called “equivalence clause”, European trading platforms had to move to Amsterdam, Dublin, and Paris. As a direct result, about €6.5 billion in deals disappeared from London.

According to Bloomberg, the Dutch Ministry of Economic Affairs actively lobbied to entice financial trading firms to relocate there. In addition, managers of those companies would be driven around Amsterdam free of charge for appointments with regulators, real estate agents and executives of flash trading companies.

CBOE (Chicago Board Options Exchange) and FT declared Amsterdam the “early winner of Brexit”.

Analyst Anish Puaar of Rosenblatt Securities remains positive about the situation on the London stock exchange. He calls it “symbolic” that London is losing its status as a European trading centre, but also sees it as an opportunity for the British to “find their own trading niche,” NL Times reported.

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                        <p class="name">EUToday Correspondents</p>
                        Our team of independent correspondents, based across Europe and beyond, are at the centre of geopolitical dynamics. We are united by our commitment to free and unbiased journalism, and our devotion to the concept of true and unfettered democracy. We take our job very seriously!
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