If business is done in Paris then the markets are in Paris, and within the control of Brussels.
That’s a first step, the pressure will continue to mount. I can assure you that the EU will make sure to claw back control of their markets.
I wish I knew where, but I don’t. I just know that it’ll happen. Madrid perhaps? Stockholm? Frankfurt? Some movement there has already happened. Paris looked likely a while ago.
Germany isn’t any more fragmented than the UK, if the markets move there. That’s a more fair comparison.
I do however think that Brussels want to avoid putting all eggs in one basket and allow a single entity to control it all.
The UK firms just beefed up desks in the EU… They are all fully compliant and operate within the EU. Like LCH SA.
How can the EU stop those firms?
Why would they want to stop them? They want them within the EU, so… mission accomplished?
The profits get booked in London, the markets stay in London
If business is done in Paris then the markets are in Paris, and within the control of Brussels. That’s a first step, the pressure will continue to mount. I can assure you that the EU will make sure to claw back control of their markets.
No, the market is in London. The button gets pushed in Paris is all.
Do you think that the rest of the EU27 are thick as mince and will allow that?
Where will they relocate it to? The UK is concentrated, the EU is fragmented
I wish I knew where, but I don’t. I just know that it’ll happen. Madrid perhaps? Stockholm? Frankfurt? Some movement there has already happened. Paris looked likely a while ago.
Germany isn’t any more fragmented than the UK, if the markets move there. That’s a more fair comparison. I do however think that Brussels want to avoid putting all eggs in one basket and allow a single entity to control it all.
It won’t happen. France would never let it be in Germany and vice versa.