Print Magazine
Brussels Morning Newspaper
Wednesday, May 18, 2022
No Result
View All Result
  • Home
    • About Us
  • EU institutions
    • Commission
    • Parliament
    • Council
  • Europe
  • World
  • Economy
  • Culture and Society
  • In Depth
    • Ambassador’s Corner
    • The American Angle
    • Europe With Transparency
    • Sustainable Perspective
    • Place de la Bourse
    • The Macro-Economist
    • Southeast Europe
Brussels Morning Newspaper
  • Home
    • About Us
  • EU institutions
    • Commission
    • Parliament
    • Council
  • Europe
  • World
  • Economy
  • Culture and Society
  • In Depth
    • Ambassador’s Corner
    • The American Angle
    • Europe With Transparency
    • Sustainable Perspective
    • Place de la Bourse
    • The Macro-Economist
    • Southeast Europe
Brussels Morning Newspaper
No Result
View All Result
Home Economy

Brexit to trigger share trading reshuffle

Nikola Kiš by Nikola Kiš
29 December 2020
in Economy
Brexit to trigger share trading reshuffle

Rostov-on-Don / RUSSIA - January 25 2020: smartphone with text Get ready for Brexit on the background of the British flag

Share on FacebookShare on Twitter

Brussels (Brussels Morning) Brexit is to trigger the largest share trading reshuffle in Europe in more than 20 years as stock exchanges open next year, Reuters reports.

While investors hope the transition of euro denominated assets out of the UK will be smooth thanks to years of preparations, the long-term effects of Brexit remain unclear.

The trade deal reached last week regulates sectors like agriculture and fishing, but does not cover the UK’s finance sector, which means Britain’s automatic access to the bloc’s financial markets ends on Thursday, 31 December. The coming days should show the initial effects, with EU and UK regulators to keeping an eye out for market dislocations on the first trading day of 2021, 4 January.

As the EU aims to reduce its reliance on the City of London for financial services and to switch euro-based trading to financial centres in the bloc, the move will split financial markets into two trading pools, which could result in less competitive prices for investors.

Predictions and expectations

Alasdair Haynes, CEO of London-based Aquis Exchange share trading platform, cited the magnitude of the coming event. “This is literally everything moves on a specific day and we have got to pray to God that we don’t have some extraordinary event happen in the market that creates high volumes,” he observed.

“It’s not the start of the end of London, but it’s pretty bloody embarrassing and a huge own goal for Britain,” Haynes concluded.

David Howson, head of Cboe Global Markets’ European division Cboe Europe, pointed out most cross-border European stock trading is to switch in one fell swoop. “It’s the biggest single share trading shift in the last two decades at least.” 

Acquis, Cboe, Goldman Sachs and others expect trading to shift gradually from London to trading hubs in the EU.

Besides shares, the trade in derivatives in London could be disrupted, according to the Bank of England. It notes that trade in interest rate swaps worth about US$ 200 billion could suffer as banks in the UK and the EU have to trade inside their respective jurisdictions.

British Financial Conduct Authority head Nikhil Rathi said he expects “there will be some particular disruption given the scale of change, but overall we are satisfied there has been good proactive management of the risks across the system.”

Tags: euro denominatedMain-SliderPost-Brexit

Latest post

Capaci,,Italy,-3,July,2016,-,The,Memorial,Monument,On

Mafia: from attacks to business

2 hours ago
Athens

What Are 10 Best Budget Hotels In Athens?

2 hours ago

Most Read

  • shutterstock_1821616664

    MEPs send Open Letter urging the Home Secretary Priti Patel to reject Assange’s extradition

    0 shares
    Share 0 Tweet 0
  • These are the 10 highest paying jobs in the Europe in 2022

    0 shares
    Share 0 Tweet 0
  • Why corruption matters

    0 shares
    Share 0 Tweet 0
  • Brussels residents want to set up school for Ukrainian children

    0 shares
    Share 0 Tweet 0
  • Sweden: Taking Syrian children away from parents for protection?

    0 shares
    Share 0 Tweet 0
Facebook Twitter Youtube LinkedIn

About Us

Brussels Morning is a daily online newspaper based in Belgium. BM publishes unique and independent coverage on international and European affairs. With a Europe-wide perspective, BM covers policies and politics of the EU, significant Member State developments, and looks at the international agenda with a European perspective.

Category

  • Ambassador’s Corner
  • Belgium News
  • Brussels
  • Commission
  • Council
  • Culture and Society
  • Diplomacy
  • Economy
  • EU Institutions
  • Europe
  • Europe With Transparency
  • Features
  • In Depth
  • Member States
  • Middle East Eye
  • Opinion
  • Our pick
  • Parliament
  • Place de la Bourse
  • Southeast Europe
  • Sustainable Perspective
  • The American Angle
  • The Macro-Economist
  • Uncategorised
  • US Elections
  • World

More info

  • About Us
  • Advertising
  • Cookies Policy
  • Contact Us
  • FAQ
  • Jobs

Brussels Morning Newspaper - All Rights Reserved © 2020

No Result
View All Result
  • Home
  • About Us
  • EU Institutions
    • Parliament
    • Commission
    • Council
  • Europe
  • World
  • Member States
  • Economy
  • Culture and Society
  • In Depth
    • Ambassador’s Corner
    • Europe With Transparency
    • Place de la Bourse
    • The Macro-Economist
    • Sustainable Perspective
    • The American Angle
    • Southeast Europe
  • Print Magazine

Brussels Morning Newspaper - All Rights Reserved © 2020

We use cookies on our website to give you the most relevant experience by remembering your preferences and repeat visits. By clicking “Accept”, you consent to the use of ALL the cookies.
Cookie settingsACCEPT
Privacy & Cookies Policy

Privacy Overview

This website uses cookies to improve your experience while you navigate through the website. Out of these cookies, the cookies that are categorized as necessary are stored on your browser as they are essential for the working of basic functionalities of the website. We also use third-party cookies that help us analyze and understand how you use this website. These cookies will be stored in your browser only with your consent. You also have the option to opt-out of these cookies. But opting out of some of these cookies may have an effect on your browsing experience.
Necessary
Always Enabled
Necessary cookies are absolutely essential for the website to function properly. This category only includes cookies that ensures basic functionalities and security features of the website. These cookies do not store any personal information.
Non-necessary
Any cookies that may not be particularly necessary for the website to function and is used specifically to collect user personal data via analytics, ads, other embedded contents are termed as non-necessary cookies. It is mandatory to procure user consent prior to running these cookies on your website.
SAVE & ACCEPT