Brexit Effect: Europe’s Largest Stock Exchange Company Moves to Amsterdam. The American CBO, one of the world’s largest stock exchanges for options, moves its European head office to Amsterdam because of the Brexit.
The ‘long-term and good relationships’ with regulators AFM and DNB were necessary for that choice, according to the company.
According to the Express Paper, Multinational CBE (Chicago Board Options Exchange) has been active for some time in the Netherlands as co-owner of EuroCCP, a so-called ‘clearing house’ that ensures the safe settlement of transactions between two other parties.
The company is mainly known worldwide for securities trading, which manages it in Europe from London. This will change from April 2019 when the United Kingdom leaves the European Union.
“We believe that the Netherlands provides a competitive and open financial market infrastructure and believe that Amsterdam is a fantastic location to establish our EU location”, writes Mark Hemsley, CEO of Cboe Europa, in a statement.
The name also mentions the Dutch supervisors. Hemsley: “We have long-term and good relations with the AFM and De Nederlandsche Bank that have a thorough understanding of the equity and derivatives markets.”
Cboe’s choice does not come out of the blue, according to Bloomberg analysts. According to them, the Dutch Ministry of Economic Affairs has an active lobby to entice financial trading companies to move to our country.
Besides, managers of these companies would be toured free of charge through Amsterdam for agreements with regulators, real estate agents and executives of flash trading companies.
Cboe is also the first stock exchange company to launch a future on the bitcoin, with which investors can speculate on a price drop of the crypto coin.