Exchanges announce move to Amsterdam
Two of the world’s top exchanges, Chicago’s Cboe Global Markets (CBOE.O) and the London Stock Exchange Group (LSE.L), are set to open new share trading venues in Amsterdam. Both the $11.6bn exchange group Cboe Global Markets and its LSE-owned rival Turquoise will move their EU stock trading venues to the Dutch capital from London by the end of 2019.
Cboe Europe is the largest pan-European stock exchange by market share, and employs around 80 staff in London. It confirmed that the new Amsterdam exchange will be ready to serve customers from April 2019. It is not yet known when LSE’s Turquoise, as well as its TRADEecho and UnaVista subsidiaries, will complete their planned move to the city.
Amsterdam: a fantastic location
Mark Hemsley, Cboe Europe’s president, said: “We believe that the Netherlands is supportive of competitive and open financial market infrastructure and we feel Amsterdam is a fantastic location to establish our EU venue.”
The news follows Amsterdam already being chosen as the base for the European trading operations of US Bloomberg, MarketAxess, Tradeweb and the Nex Group. It's believed that the move to the Amsterdam Area was made in part due to the region's high internet speeds – as well as an enviable work-life balance and high standard of living.