An average €9.2bn shares a day were traded on Euronext Amsterdam and the Dutch arms of CBOE Europe and Turquoise in January, a more than fourfold increase from December. The surge came as volumes in London fell sharply to €8.6bn, dislodging the UK from its historic position as the main hub for the European market, according to data from CBOE Europe. The shift was prompted by a ban on EU-based financial institutions trading in London because Brussels has not recognised UK exchanges and trading venues as having the same supervisory status as its own. “It’s symbolic in that London has lost its status as the home of EU share trading, but it has a chance to carve out its own niche on trading,” said Anish Puaar, a market structure analyst at Rosenblatt Securities in London. “Fund managers will be more concerned with availability of liquidity and the costs of placing a trade, rather than whether an order is executed in London or Amsterdam,” Puaar added.

https://www.ft.com/content/3dad4ef3-59e8-437e-8f63-f629a5b7d0aa