Goldman Sachs to open Paris stocks hub to avoid Brexit disruption

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Goldman Sachs said on Tuesday it will launch a share trading hub in Paris, in the sector's latest move to avoid disruption to customers after ...

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Goldman Sachs said on Tuesday it will launch a share trading hub in Paris, in the sector's latest move to avoid disruption to customers after Britain's full departure from the European Union next month.

London has long been Europe's share trading centre, but the EU has yet to say if it will allow full cross-border share trading to continue after December 31, when Britain's unfettered access to the bloc ends.Goldman said it plans to launch a SIGMA X Europe platform in Paris prior to January 4, 2021, subject to regulatory approvals.

SIGMA X Europe will trade shares listed across 15 European markets, while its existing UK hub will continue to trade UK and European listings. Three pan-European share trading platforms in London - CBOE, London Stock Exchange's Turquoise, and Aquis Exchange - have already obtained regulatory approvals for EU hubs.

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