Here at Narrowboat Media, the goal is to cover Australian venture, shares and property. Ever now and then though, there is an international news story which piques my interest
Here’s a quick history of what is happening in UK’s once-lucrative trading market
Feb’21: Amsterdam was named a bigger trading market than London
May’21: London suffered a loss of £2.3 trillion of trading flows in a single month in its lucrative derivatives trading market. Wall Street trading platforms picked up most of this benefit.
Jul’21: CBOE, one of the biggest clearing houses in Europe, announced it will launch Europe's newest derivatives market on 6 Sep’21 in Amsterdam, taking on entrenched rivals like Deutsche Boerse and Euronext (and of course taking more flow from London)
In short – it is not a good time to be in a clearing house in London. Fortunately, London still has a lot of the ‘brains’ (funds/banks/brokers) that do the trading. Notwithstanding that… losing the trading flow is a big loss for the city.
Commentaires