Emigre: Goldman Sachs plans Paris buying and selling hub to beat Brexit

Goldman Sachs stated yesterday it’ll launch a share buying and selling hub in Paris, in a transfer to keep away from disruption to prospects after Britain’s full departure from the European Union subsequent month.

London has lengthy been Europe’s share buying and selling centre, however the EU has but to say if it’ll permit full cross-border share buying and selling to proceed after December 31, when the UK leaves the only market.

Goldman stated it plans to launch a SIGMA X Europe platform in Paris previous to January 4, 2021, topic to regulatory approvals.

“We want to ensure that our clients continue to have access to all of our key liquidity sources post-Brexit,” stated Liz Martin, Goldman’s international co-head of futures and equities digital buying and selling.

SIGMA X Europe will commerce shares listed throughout 15 European markets, whereas its current UK hub will proceed to commerce UK and European listings.

Reuters