Bloomberg has chosen Amsterdam as the base for its trading operations in the European Union, to give it access to EU markets after Britain leaves the 27-country bloc next year.

The US data and trading group is set to file an application this week with Dutch regulators for a fully regulated EU entity that can trade fixed income, equities, derivatives and foreign exchange. It is following the path trodden by US rivals MarketAxess and Tradeweb and the UK’s Nex Group in choosing the Dutch city as its EU home.

For the past two decades dozens of trading venues for bonds and shares have used their London operation as a passport to enter markets in Europe but now face creating dual systems, after the UK’s vote. The US group will still maintain its base in London.

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Source: Financial Times

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