The bad news, if you work at a British stock exchange, is that you won’t be doing very much for the next three weeks. The good news is that you wouldn’t have very much to do, anyway, unless you’ve already escaped pestilent Blighty for the slightly-less disease-ridden jurisdictions across the Channel.
For Cboe, about 90% of its trading volumes of European stocks had moved to its platform in Amsterdam Monday. Before that, all of that volume had been handled in London. In the case of Aquis, close to 100% of its volumes of European stocks had moved to its Paris operation. That is up from a minimal amount when the U.K. was still part of the EU.
“It’s been an overnight transition business,” said Belinda Keheyan, head of marketing at Aquis.