Amsterdam attracts more trading firms seeking post-Brexit EU base -source
By Simon Jessop and Taiga Uranaka
LONDON/TOKYO, Sept 13 (Reuters) - At least 20 financial firms are applying for licenses to operate in Amsterdam in preparation for Britain's departure from the European Union, a source with knowledge of the matter said.
Amsterdam has been competing aggressively with Frankfurt, Paris and Dublin to attract business from London, all of which have chalked up recent major relocation wins.
In addition to major players such as Chicago's Cboe Global Markets and the London Stock Exchange Group, a handful of small trading firms are seeking to set up operations in Amsterdam, the source told Reuters.
They include Gelber Group, Tower Research Capital, Maven Derivatives, Bedford Row Capital and Mako Derivatives, the source added.
The companies did not respond to requests for comment.
Japan's Norinchukin Bank and Mitsubishi UFJ Financial Group and U.S. firms Marketaxess, Jane Street and Tradeweb have all said they are establishing offices in the Netherlands.
A Norinchukin spokesman said on Wednesday the bank is preparing to set up a subsidiary with a banking license in Amsterdam which will operate as its hub for Europe.
Tradeweb's head of Europe and Asia business, Enrico Bruni, said "post-Brexit uncertainty" meant it had needed to pick a new location outside Britain so that it could continue to provide its services to clients in the rest of the bloc.
"The characteristics of the Netherlands make sense for our business and led us to choose Amsterdam," he said, adding that the company will maintain operations in London.
The Netherlands scored high on regulatory environment, electronic trading infrastructure, logistics and location, legal environment, language skills and talent pool, Bruni said. (Editing by Alexander Smith)
