日韩精品久久一区二区三区_亚洲色图p_亚洲综合在线最大成人_国产中出在线观看_日韩免费_亚洲综合在线一区

Global EditionASIA 中文雙語(yǔ)Fran?ais
World
Home / World / Europe

EU investors start to look beyond London

By JONATHAN POWELL in London | China Daily Global | Updated: 2021-01-06 09:28
Share
Share - WeChat
The British union flag flutters on the Victoria Tower at the Houses of Parliament, as Parliament is recalled to ratify legislation confirming Britain's departure from the European Union, in London, Britain on Dec 30, 2020. [Photo/Agencies]

Liquidity shifting away from the British capital may cause market fragmentation

On the first day of trading after the Brexit transition period ended, billions of pounds worth of European Union share dealing was moved out of London to exchange platforms in Madrid, Frankfurt and Paris.

The Financial Times reported on Refinitiv data that showed close to 6 billion euros ($7.1 billion) in share dealing was rerouted to rival European marketplaces on Monday.

British financial companies warned during the transition that London could lose its role as the financial capital of Europe and had called for so-called "equivalency "rules that would allow the cross-border share trading market to remain intact.

The United Kingdom's post-Brexit trade deal, agreed last month with the EU, mostly omitted financial services, and blanket access for British companies to the EU ended on Jan 1.

EU banks and asset managers must now use a platform inside the bloc for euro share trading.

Just hours before the new rules came into force and in a bid to avoid disruption, the UK's market regulator said it would temporarily allow UK financial companies to use venues in the bloc.

If the Financial Conduct Authority had not made this intervention, UK and EU participants would have been unable to trade swaps as the EU had refused to lift its ban on trading swaps on platforms in London.

The UK regulator said it would consider by March 31 whether "market or regulatory developments warrant a review" of its approach.

Despite the changes, Reuters reported that London would still be able to dominate its rival European finance centers when it comes to trading stocks, currencies and derivatives, but that shifting capital out of London could "cause unnecessary and costly market fragmentation".

"It's been an extraordinary day. Shifting liquidity is one of the hardest things to do. It's not 'big bang'-it's 'bang and it's gone'. The city has lost its European share business," said Alasdair Haynes, chief executive of Aquis Exchange, quoted in the Financial Times.

Haynes told Bloomberg TV that 99.6 percent of Aquis' European stock trading had now moved to its parallel venue in Paris.

"Europe has clearly won the battle for its own share trading," Haynes told Bloomberg. The shift "is a spectacular own goal as Britain is now losing its very strong position in trading of European equities in London," he said.

"The talk of equivalence being granted in the next few months is in dreamland," he added. "It will take years if ever to get equivalence.

"This horse has bolted so far it's now in a different stable. To get it back you have to do something pretty revolutionary."

The 27-nation EU has been Britain's biggest financial services customer, worth about 30 billion pounds ($40 billion) a year, according to Reuters.

It said the relationship has helped secure London's position as one of the world's biggest financial centers and as a major contributor to British tax revenues.

Most Viewed in 24 Hours
Top
BACK TO THE TOP
English
Copyright 1995 - . All rights reserved. The content (including but not limited to text, photo, multimedia information, etc) published in this site belongs to China Daily Information Co (CDIC). Without written authorization from CDIC, such content shall not be republished or used in any form. Note: Browsers with 1024*768 or higher resolution are suggested for this site.
License for publishing multimedia online 0108263

Registration Number: 130349
FOLLOW US
主站蜘蛛池模板: 国产一级特黄aa大片免费 | 亚洲精品国产a久久久久久 亚洲国产精品第一页 | 黄色国产视频 | 一区二区视频在线 | 91精品视频免费在线观看 | 99er在线观看 | 免费国产午夜在线观看 | 国产一级性生活视频 | 亚洲www啪成人一区二区 | 国产精品亚洲第一区二区三区 | 综合精品 | 国产精品久久久久不卡 | 国产一区二区精品在线观看 | 2022国产成人福利精品视频 | 成人福利视频在线看高清观看 | 在线播放国产一区二区三区 | 在线观看免费视频日韩 | 99热热99 | 伊人久久大杳蕉综合大象 | 99re6在线视频精品免费 | 亚洲精品国产综合一线久久 | 久久www免费人成看片高清 | 免费能直接在线观看黄的视频 | 在线观看特色大片免费网站 | av老司机久久 | 一区二区三区中文字幕 | 日韩一区在线视频 | 色屁屁www影院免费观看视频 | 视频成人永久免费视频 | 婷婷丁香色综合图亚洲 | 亚洲熟妇毛茸茸 | 国产精品a久久久久 | 九九热最新地址 | 国产精品午夜小视频观看 | 久久亚洲国产欧洲精品一 | 亚洲国产高清高潮精品美女 | 欧美日韩国产综合一区二区三区 | 久久一区 | 黄色电影在线免费观看 | 黄色av免费看 | 欧美黄色一区 |