oh dear: Euroclear to move holding company from London to Brussels

[AtW]

Euroclear, one of the world’s largest securities depositories, is to move its holding company from Britain, redrawing its corporate structure in preparation for the UK’s departure from the European Union.

The group will shift its domicile and tax residency to Brussels, its biggest centre of operations, later this year.

The move is the second part of a two-stage plan in reaction to Brexit after unveiling last month plans to build a securities settlement system for Ireland that did not rely on London.

https://www.ft.com/content/d466cd3e-...c-0cd3483b8b80

[Eirikur]

Non pay wall link: https://www.independent.co.uk/news/b...-a8243771.html

Waiting for the brexidiots to come in and say this is perfectly normal, just an HQ with a handful of people etc etc

[Bean]

Non pay wall link: https://www.independent.co.uk/news/b...-a8243771.html

Waiting for the brexidiots to come in and say this is perfectly normal, just an HQ with a handful of people etc etc

From your link;
"Brexit has put the future ability of UK-based financial firms to operate across the EU and eurozone in doubt and some firms are taking pre-emptive action in case access ends up being withdrawn."

and

"Another London-based clearing house, LCH, part of the London Stock Exchange, is the EU’s biggest clearing house for euro-denominated transactions."

So Euroclear is not even the biggest clearing house for the EU?
It's almost as if some media (and their readers) will jump on any news as horrific, whilst the true scale is much smaller...... cue gnashing of teeth


Did you read the article yourself btw or just the headline?

[WTFH]

From your link;
"Brexit has put the future ability of UK-based financial firms to operate across the EU and eurozone in doubt and some firms are taking pre-emptive action in case access ends up being withdrawn."

and

"Another London-based clearing house, LCH, part of the London Stock Exchange, is the EU’s biggest clearing house for euro-denominated transactions."

So Euroclear is not even the biggest clearing house for the EU?
It's almost as if some media (and their readers) will jump on any news as horrific, whilst the true scale is much smaller...... cue gnashing of teeth


Did you read the article yourself btw or just the headline?

That's brilliant news, they're a nothing clearing house, no jobs, nothing to worry about.

Next you'll be forgetting about the document you posted the other day and what it said about the various European organisations that would leave the UK, even though you whinged about them a few months ago.

[WTFH]

European Banking Authority


European Medicines Agency


Galileo Security Monitoring Centre

[northernladyuk]

Well, we soon saw off those miserable slant-eyed, sausage-eating swine.

[DimPrawn]

They are moving to Brussels not due to Brexit, but due to this.

[vetran]

“We want to redomicile the topco to the eurozone. It will be in Belgium as it’s where most of our business operations are. We are preparing to launch a transfer of arrangement sometime after the summer,” Lieve Mostrey, Euroclear’s chief executive told the Financial Times.

“For the type of company we are, we feel more comfortable in the eurozone,” she added.

Last month Euroclear outlined plans to establish operations in Dublin, to enable the firm to continue to support the settlement of Irish corporate securities after Brexit.

not sure if she actually means in the Eurozone (the monetary area not the geographic area) or in the EU but as she said Eurozone & they deal in Euros I imagine she actually meant the Eurozone something we weren't going to be in anyway with or without Brexit.

Of course the baying pack of remoaners don't do detail very well.

[AtW]

Britain is holding all the cards, they'll be forced to move their HQ to Bham or else!

[vetran]

Britain is holding all the cards, they'll be forced to move their HQ to Bham or else!

Nah everyone knows Birmingham is infested by accident prone soviet squirrel botherers even the EU knows better