March 18, 2019 / 10:21 AM / a month ago

CME says euro trading has moved to Amsterdam ahead of Brexit

LONDON, March 18 (Reuters) - Euro-denominated government bond, repurchase agreement and foreign exchange trading at CME Group has moved from London to Amsterdam to avoid disruption from Brexit, the exchange said on Monday.

CME Group, one of the world’s biggest exchanges, set up new units in the Dutch financial capital to avoing European Union customers being disrupted by whatever form Britain’s departure from the bloc takes.

Migration of trading is a blow to London as a global financial centre, with more business to follow the Chicago-headquartered exchange.

While Brexit is due to take place on March 29, it now looks increasingly likely that it will be delayed.

Cboe Europe, the largest pan-European share trading platform, plans to move euro-denominated share trading from London to a new unit in Amsterdam, with trading starting on April 1.

But it said last week that it was “closely monitoring” political discussions and would react as quickly as possible to any developments that would alter this launch date.

Britain’s government is scrambling to get support in parliament for a Brexit deal ahead of an EU summit on Thursday.

Reporting by Huw Jones, editing by Louise Heavens

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