As the date to leave the EU comes ever closer another company is jumping ship before Brexit actually begins.
This time it is Thomson Reuters who have said they will shift their foreign exchange derivatives trading to Ireland.
The outfit will relocate to Dublin so they can continue to do business within the EU.
There are fears of a mass exodus of companies, especially in financial services, in the run up to Brexit.
A spokesperson said: “Thomson Reuters has commenced the process of applying to the Central Bank of Ireland for authorisation to operate its FX Multilateral Trading Facility from Dublin rather than London as a result of the UK’s planned departure from the European Union.”
“It is our intention to transfer all existing client relationships of the Thomson Reuters MTF and Dealing, as well as Fixed Income Callouts and Auctions, from RTSL to our new Irish legal entity ahead of the Brexit date.”
Derivatives trading volumes on Thomson Reuters platform exceed $300-billion a day.
https://www.thelondoneconomic.com/news/britain-lowers-expectations-brexit/20/02/
https://www.thelondoneconomic.com/news/the-brexit-assessments-the-government-didnt-want-released-have-been-published-now-everyone-can-see-what-they-were-hiding/08/03/