Amsterdam leaves London as its European commercial center

Amsterdam leaves London as its European commercial center

Not surprisingly, Amsterdam overtakes London as the largest mall in Europe. After the UK left the European Union, trading platforms such as CBOE and Turquoise moved European shares trading from the London Stock Exchange to those in Amsterdam and Paris.

The largest trading platform

In January, an average of 9.2 billion euros in shares were traded in Amsterdam daily, British business newspaper The Financial Times (FT) reported Thursday. This trading volume is more than four times what it was in December.

In London, it is trading much less than it was before Brexit. Trade volume decreased to 8.6 billion euros in January. This means that Amsterdam is now the largest European center for trading stocks.

The CBOE and Turquoise both moved because Brussels is not giving the UK stock exchange regulator the same post-Brexit status as the EU regulators. In other words, the EU and the UK do not recognize each other’s trade rules.

Without the so-called “equality clause”, European trading platforms had to move to Amsterdam, Dublin and Paris. In total, about 6.5 billion euros of deals with it have disappeared from London.

Early Brexit Winner

According to Bloomberg News, the Dutch Ministry of Economic Affairs actively lobbied for financial trading companies to move to our country. Additionally, managers of these companies will be transported around Amsterdam free of charge for appointments with regulators, real estate agents and executives of express trading companies.

The Financial Times declares Amsterdam “the first Brexit winner”. Rosenblatt Securities analyst Anish Puaar remains positive about the situation on the London Stock Exchange. He describes it as “symbolic” that London is losing its status as a European trading center, but also sees it as an opportunity for the British to “find their own trading place”.

See also  Floods in Limburg and Germany are the most expensive European natural disaster ever

Leave a Reply

Your email address will not be published. Required fields are marked *