Thanks to Brexit, the Dutch capital has toppled London as the largest trading center for equities. The figures show that on an average day in January, 9.2 billion Euros in shares were traded on Euronext Amsterdam and the Dutch branch of the stock exchange CBOE Europe and Turquoise, which is four times more than in December.
The Financial Times (FT) had this news on its front page, based on data from stock exchange company CBOE Europe. The volume of trade in the British capital plunged in 2021, with an average of shares worth 8.6 billion euros being traded daily in January.
Many companies moved their listing from London to Amsterdam due to a European ban on EU-based financial institutions from trading in the UK. Since Brexit, British stock exchanges and trading platforms no longer apply the supervisory and regulatory standards required by the EU, at least not in the eyes of Brussels.
The transactions that the London stock exchange misses as a result mainly go to Amsterdam, as it appears now. The fact that London has now been dethroned as the leading European stock market is more than just a symbolic loss: financial services firms paid nearly £ 76 billion in taxes last year. A sharp drop in the number of transactions therefore means a loss for the British treasury.
Although the Paris and Dublin stock exchanges have also seen trade volumes rise slightly to the detriment of London, Amsterdam is clearly the provisional winner of Brexit. The Dutch capital also took over trading activity from The Old Smoke in the market for government debt and derivatives such as swaps.