Amsterdam popular with post-Brexit flash traders

By Janene Pieters on July 11, 2017 - 09:13
Rijksmuseum
. (Fireworks and fanfare accompanied Dutch Queen Beatrix as she on Saturday reopened Amsterdam's Rijksmuseum (source: humanities.blogs.ie.edu))

While many claim that the Netherlands' strict banker bonus cap is deterring international banks from settling in Amsterdam after the Brexit, the Dutch capital does seem to be popular within another branch in the financial sector - flash traders.

At least five companies involved in this type of stock trade already settled in Amsterdam or are planning to do so soon, according to the Financieele Dagblad on Tuesday. The newspaper calls it "the first success for the lobby that wants to attract financial companies from the City to Amsterdam".

All five companies come from the United States - Chicago, Huston and New York. Because of European regulations, they must have a branch in Europe after the Brexit in 2018 if they want to continue trading in the European free market. 

Late last month employers organization VNO-NCW warned that dozens of smaller financial institutions and at least three major banks wanted to move from London to Amsterdam after the United Kingdom leaves the EU, but the strict banker's bonus cap is keeping them from doing so. According to the organization, the Netherlands can hereby and a billion euros in income and corporate tax. 

Tags: