EU share trading flees London on first day after full Brexit
Business rerouted to newly created European hubs and primary exchanges
London’s financial sector started to feel the full effects of Brexit on the first trading day of 2021 as nearly €6bn of EU share dealing shifted away from the City to facilities in European capitals.
Trading in equities such as Santander, Deutsche Bank and Total moved to EU marketplaces or back to primary exchanges such as the Madrid, Frankfurt and Paris bourses, according to data from Refinitiv — an abrupt change for investors in London who have grown accustomed to trading shares in Europe across borders without restrictions.