UBS Venue Sees EU Stock Trade in London Cut in Half After Brexit
- Swiss bank hasn’t followed rivals to set up platform inside EU
- EU companies can no longer trade European stocks from London
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UBS Group AG’s London platform has seen nearly 50% of its European equities business move to rivals in Amsterdam and Paris after Brexit diverted most EU share trading back to the bloc.
The Swiss bank, which decided not to open a venue for these trades within the European Union, dropped to 307 million euros ($373 million) in daily share trading last week on its UBS MTF venue, according to data from Cboe Global Markets Inc.