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The new hub?
Amsterdam looks to be one of the key benefi-
ciaries of Brexit, with firms upping sticks from
London to the Dutch capital.
Cboe Europe confirmed in July last year that it
would be relocating its UK operations to Amster-
dam as its future European base of operations,
including a MiFID II-compliant equities trading
venue and approved publication arrangement
(APA) in the city. Approval was granted in mid-
March.
Other trading venue operators, including
Bloomberg, Tradeweb and MarketAxess, have
all been granted approval by the Dutch financial
regulator to operate venues in Amsterdam in
early 2019.
Sleeping giant
Frankfurt was another city expected to reap the
Brexit harvest, yet Europe’s second-largest financial
hub has yet to see any significant windfall.
Germany’s largest exchange operator, Deutsche
Börse, has endured a difficult few years, with its
proposed mega-merger with London Stock Exchange
falling foul of the EU competition regulator, an insid-
er trading scandal that saw previous chief executive
Carsten Kengeter step down from the business and
falling profits towards the end of last year.
Consolidation is now the name of the game for
Deutsche Börse, with new helmsman Theodor
Weimer, saying that large-scale, transformational
mergers were “out of the question” in mid-February,
with the group instead focusing on consolidation.
Issue 59 // TheTradeNews.com // 59