The Netherlands to be the 'centre' of EU financial trading post Brexit
The Dutch financial services authority AFM has held talks with 150 different companies which are interested in a licence to trade financial instruments in the Netherlands and expects the country to become the âcentreâ of EU financial trading after Brexit.
AFM chairwoman Merel van Vroonhoven said she expects 30% to 40% of European trading in financial instruments to be housed in the Netherlands as the European financial markets take account of the impact of Britainâs departure from the EU.
âThe arrival of these companies will attract other service providers and strengthen the access of Dutch pension funds and other asset managers to the financial markets,â Van Vroonhoven said.
In particular, trading platforms, traders and a number of small banks are interested in relocating some operations from London to the Netherlands, the AFM said.
A number of larger plaforms, including CBOE, LSE Turquoise and Bloomberg have already gone public with their plans to move to Amsterdam, as has trader Jane Street.
This expected surge in trading mean the AFM will have to invest in extra capacity, expertise and support services to ensure it can fully meet its tasks and responsibilities, the organisation said.
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