How Amsterdam is stealing a march on rivals as Brexit trading hub

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All the talk was of Frankfurt or Paris luring London's financial business as Britain peeled away from the EU. Yet it is Amsterdam that is proving ...

All the talk was of Frankfurt or Paris luring London's financial business as Britain peeled away from the EU. Yet it is Amsterdam that is proving the most visible early winner.

"There is a whole culture of trading, and to be close to that was very positive," said Robert Barnes, CEO of London Stock Exchange-owned share trading platform Turquoise, which has selected the Dutch capital over Paris for its post-Brexit hub. Yet while the arrival of such businesses may bring higher tax revenues from trading volumes and private investment in infrastructure, the city is not experiencing a jobs boom, as many companies relocating there tend to be highly specialised, and smaller employers.

Spanish fintech form Allfunds, Dutch web startup WeTransfer and two"blank-cheque" firms - one backed by ex-Commerzbank chief executive Martin Blessing and another by French tycoon Bernard Arnault - are planning to list on Euronext Amsterdam. That made the Dutch capital the biggest player, an advance from last July when platforms in the city commanded just 10per cent of the market.

This drive to focus on specialist areas rather than appeal more broadly could be reflected in the number of companies relocating.

 

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