With this move, London is missing an online platform where 210 billion euros in short-term funding and bonds are traded each month.
The reason for the resignation of this money market is the threat of a Brexit without agreement between the EU and the United Kingdom. Brexit begins March next year.
More specifically, the trading platform BrokerTec Europe is part of the NEX Group acquired by the Chicago Mercantile Exchange (CME). What has already settled in Amsterdam employs twelve people there.
"All our listed bonds and short-term funding go to Amsterdam," confirmed John Edwards, manager of BrokerTec Europe, to Bloomberg. It will start trading in February next year.
Nineteen people work at BrokerTec Europe in London.
The 210 billion euros that go through the stock market platform are relatively limited trade volumes, and experts increased in context on Tuesday evening.
The move follows the approved acquisition last week of the Chicago Mercantile Exchange of NEX Group acquisition of 4.96 billion dollars.
According to analysts, it is very symbolic for the selection of CME, which itself has a market value of 63 billion dollars.
This is the first major market that actually leaves London under pressure from Brexit, that the United Kingdom is revoked from the European Union.
The whole market goes
The company finds that it will not be able to serve its European customers from London without this move in the absence of a Brexit deal. NEX is still waiting for approval from the supervisors.
The step in CME bonds is not in itself. AFM reported last week that about 150 platforms would like to make the move to Amsterdam because of Brexit. These would represent 30 to 40% of specific stock trading transactions.
Earlier, CBOE, the largest stock exchange in Europe, was registered in the Dutch capital.
Save higher costs
During the spring it became known that another ten thousand flash dealers and marketers established themselves as London service providers for the financial sector in Amsterdam.
Large exchanges have repeatedly called on negotiators on behalf of the EU and the United Kingdom that there is a threat of double trade flows across the island and Europe, with rising costs for corporate customers and ultimately the consumer.