AMSTERDAM (Reuters) - Trading firm Jane Street, one of the largest players in exchange-traded funds, has opened an office in Amsterdam, the company said on Monday, giving it a location from which to serve EU clients when Britain leaves the bloc
The Dutch capital, with high-speed digital infrastructure in the heart of Western Europe, has become a favourite destination for trading businesses looking for an alternative to the London City financial district.
Jane Street has applied for a license with Dutch market regulators, the company said.
“We can confirm we have opened our Amsterdam office. We are in the process of applying for a license with the AFM, but it hasn’t been approved yet,” a spokesman said.
No details about the number of jobs were released.
With offices in New York and Hong Kong, Jane Street traded roughly $1.7 trillion in ETFs globally in 2017.
Earlier this month Chicago’s Cboe Global Markets CBOE.O and the London Stock Exchange Group (LSE.L), two of the world’s largest exchanges, said they would open venues in Amsterdam due to Britain’s departure from the bloc next March.
Amsterdam has already won business from platforms including Tradeweb and MarketAxess.
London-based foreign exchange and fixed income trading platform NEX NXGN.L, which is being taken over by U.S. exchange CME (CME.O), is also opening an EU base in the Dutch financial capital.
Reporting by Anthony Deutsch; Editing by Hugh Lawson