Photo: DutchNews.nl |
Financial services group Bloomberg is moving its EU trading
operations headquarters to Amsterdam from London. The move will give the New
York-based data and trading group access to EU markets after Britain leaves the
27-country bloc next year, the Financial Times has reported.
Bloomberg is
filing an application for its trading platform and reporting businesses with
Dutch regulators, the paper said. The fully regulated EU entity will be able to
trade fixed income, equities, derivatives and foreign exchange.
US rivals
MarketAxess and Tradeweb and London’s Nex Group earlier opted for Amsterdam
after Brexit.
The move will create only about 10 new jobs in Amsterdam but it
will prepare Bloomberg for an eventual hard Brexit, Bloomberg’s Ben Macdonald
told the paper.
Bloomberg is one of the biggest trading venues in Europe. It
has traded more than €300bn in interest rate swaps in each of the first three
months of the year, according to an estimate by Clarus FT, a UK data provider,
the FT said.
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