LSE Preps Amsterdam Subsidiary for No-Deal Brexit

The London Stock Exchange (LSE) sought to reassure European investors this Monday by announcing contingency plans for Brexit Brexit Brexit stands for British Exit, or in reference to the United Kingdom’s decision to formally leave the European Union (EU) as declared in a June 23, 2016 referendum. In a more immediate sense, a tight vote and unexpected result helped drive British pound (GBP) to lows that had not been seen in decades.The day following the referendum, former Prime Minister David Cameron resigned from office where he was replaced by Theresa May, who later resigned from office on June 7th, 2019. Active Prime Minis Brexit stands for British Exit, or in reference to the United Kingdom’s decision to formally leave the European Union (EU) as declared in a June 23, 2016 referendum. In a more immediate sense, a tight vote and unexpected result helped drive British pound (GBP) to lows that had not been seen in decades.The day following the referendum, former Prime Minister David Cameron resigned from office where he was replaced by Theresa May, who later resigned from office on June 7th, 2019. Active Prime Minis Read this Term.

British Prime Minister Theresa May is making her way to Paris, followed by Berlin, to try and convince the European Union to give the UK an extension on Brexit.

And though a deal that would mean the UK remains in the EU for a few more months may be reached, the LSE - as most financial services firms - is preparing for a no-deal Brexit.

If May is unable to reach a deal with the EU and other British members of Parliament, the UK will leave the pan-European political body on Friday.

The LSE has said that, if that happens, it plans to shift Euro-denominated trading to its Amsterdam-based subsidiary, Turquoise.

In a statement issued on Monday, the exchange operator said that Turquoise, which provides access to approximately 4,500 stocks, would continue to offer all of its listed equities to investors in Europe.

Not alone

If there is a no-deal Brexit, the LSE also said that it would introduce European shares on its London-based platform over the course of this year.

The exchange operator added that UK, US, and Swiss equities would still be available to trade via its London-based firm.

These steps would mean that traders in the UK could continue doing business, even if the country does leave the EU. The same is true for EU-based traders.

The LSE is not the only firm to have taken such steps in the face of a potential no-deal Brexit.

Last Friday, Cboe - the largest share Trading Platform Trading Platform In the FX space, a currency trading platform is a software provided by brokers to their respective client base, garnering access as traders in the broader market. Most commonly, this reflects an online interface or mobile app, complete with tools for order processing.Every broker needs one or more trading platforms to accommodate the needs of different clients. Being the backbone of the company’s offering, a trading platform provides clients with quotes, a selection of instruments to trade, real In the FX space, a currency trading platform is a software provided by brokers to their respective client base, garnering access as traders in the broader market. Most commonly, this reflects an online interface or mobile app, complete with tools for order processing.Every broker needs one or more trading platforms to accommodate the needs of different clients. Being the backbone of the company’s offering, a trading platform provides clients with quotes, a selection of instruments to trade, real Read this Term in Europe - announced near-identical plans.

The company also has a subsidiary in the Netherlands and said that it would be used to continue business with EU clients in the wake of a no-deal Brexit.