Wednesday 08 December 2021

Bloomberg moves EU trading units to Amsterdam ahead of Brexit


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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