Stock trading companies avoid Brexit fallout in Amsterdam

The London Stock Exchange (LSE) has launched a new trading platform in Amsterdam due to Brexit. Turquoise, the LSE’s pan-European share trading platform, opened for business on 28 November.  The hub was created to prevent disruption to the exchange’s European customers when the Brexit transition period ends on 31 December this year. Turquoise offers trading in stocks that have a primary listing in the European Economic Area, with the same shares still being offered in London

Another London-based share trading platform, Cboe, has also opened a so-called Brexit hubs in Amsterdam to trade shares denominated in euros. Cboe’s Dutch hub has been operating for a few months, but volumes are not expected to pick up until after the Brexit transition period ends.

Amsterdam’s growing finance sector

The Dutch capital has been a global finance hub since the Dutch East India Company first introduced tradable stocks in 1602. In recent years, it has been named a top centre for green finance thanks to the many private and public initiatives focused on supporting sustainability through financial instruments.

The capital has also become a FinTech leader due to the presence of companies like Adyen, Bunq, Ohpen and Dyme, all of which are based in the city. To ensure the sector succeeds in the years ahead, the Dutch government is working to help businesses cope with the changes caused by Brexit, which has lead dozens of companies to relocating to the Netherlands.

Read more business news from around Amsterdam.