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Amsterdam tops London as Europe's number one share trading hub

By Caoimhe Toman

Date: Thursday 11 Feb 2021

LONDON (ShareCast) - (Sharecast News) - Amsterdam ousted London as Europe's top share trading hub this month as a result of the shift in the location for dealing stocks and derivatives after Brexit.
An average of €9.2bn shares a day were traded on Euronext Amsterdam and the Dutch arms of CBOE Europe and Turquoise in January, up by more than four times from December, reported the Financial Times on Thursday.

The surge came as trading volumes in London fell sharply to €8.6bn, according to the CBOE Europe.

The Netherlands has been welcoming a lot of the business lost by the UK since Brexit, mainly due to the ban on EU-based financial institutions trading in London because Brussels has not recognised UK exchanges and trading venues as having the same supervisory status as its own.

Around €6.5bn of deals were lost to the EU when the Brexit transition period concluded at the end of 2020.

Paris and Dublin also registered small increases in business in January, as trading orders were funnelled through the EU arms of Aquis and Liquidnet, respectively, instead of London.

For now, London has lifted a prohibition on trading of Swiss stocks, such as Nestlé and Roche, which are banned on EU exchanges.