Fresh blow for London as euro derivatives trading floods out
Share of euro-denominated swaps market tumbles from 40% in July to 10% last month
Subscribe to read | Financial Times
Trading in a key euro-denominated derivatives market flooded out of London last month to rival financial centres in New York, Amsterdam and Paris, in the latest evidence of the blow dealt by Brexit to the UK financial centre.
The trading of euro-denominated swaps in London dropped from nearly 40 per cent of the market last July to 10 per cent in January, according to a survey published by data provider IHS Markit on Thursday.
The shift in the trading of these derivatives — often used by investors to hedge against moves in interest rates and currencies — is another setback for London, which gave up its status as Europe’s top share trading hub to the Dutch capital after it fully left the EU last month.
Share of euro-denominated swaps market tumbles from 40% in July to 10% last month
Subscribe to read | Financial Times
Trading in a key euro-denominated derivatives market flooded out of London last month to rival financial centres in New York, Amsterdam and Paris, in the latest evidence of the blow dealt by Brexit to the UK financial centre.
The trading of euro-denominated swaps in London dropped from nearly 40 per cent of the market last July to 10 per cent in January, according to a survey published by data provider IHS Markit on Thursday.
The shift in the trading of these derivatives — often used by investors to hedge against moves in interest rates and currencies — is another setback for London, which gave up its status as Europe’s top share trading hub to the Dutch capital after it fully left the EU last month.
I think most British people don't have a clue what's going on.
They're getting their furlough and they're happy as a pig in sh*t.
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