PERHAPS as many feared, Amsterdam has overtaken London as Europe’s most valuable trading capital quadrupling trades in January according to the Financial Times (FT).
The paper revealed that share dealing on the Amsterdam exchange managed by Euronext, averaged €9.2 billion per day which is four times more than its December figures.
In London, by contrast the reported daily volumes fell to €8.6 billion per day and the FT reports that the shift is due to a ban on EU-based financial institutions trading in London as the EU is yet to rule that UK exchanges enjoy the same supervisory status as their European counterparts.
Whilst turnover is down significantly, there is no indication that there will be any further London job losses as those companies that intended to move will have done so already and it doesn’t really matter where the traders are situated as so much is done electronically.
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