Amsterdam gets a Brexit boom

Amsterdam gets a Brexit boom

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As many as 50 financial firms have applied for a license to operate in the Netherlands since the Brexit vote.  And those UK companies, mostly trading entities, are set to up the country’s share of European equity trading to one-third, from the current 5%, and its share of European bond trading to 90%, according to regulator AFM.

Amsterdam is winning so much financial business that the Netherlands is boosting the AFM’s budget to help it keep pace.

“It could be even more in case of a no-deal Brexit,” Merel van Vroonhoven, head of the AFM, told Bloomberg TV. AFM needs the extra budget to heavily invest in IT and hire many more people.”

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