Cboe Global Markets is planning to establish a new venue in Amsterdam to ensure the company is well-positioned to continue to serve its customers across Europe from April 2019, after the UK’s planned exit from the European Union (EU).
Cboe Europe has filed its application with the Dutch Authority for the Financial Markets (AFM) to establish a MiFID II compliant equities trading venue and Approved Publication Arrangement (APA) in the Netherlands to continue to service its EU customer base. The choice of the Netherlands comes after thoughtful and careful consideration of a number of locations that have strong international financial market centres.
Mark Hemsley (pictured), President of Cboe Europe, says: “We believe that the Netherlands is supportive of competitive and open financial market infrastructure and we feel Amsterdam is a fantastic location to establish our EU venue. We have longstanding and good relations with the AFM and De Nederlandsche Bank (DNB) which have a deep understanding of the equities and derivatives markets. Additionally, Amsterdam is a well-known location for us given our ownership stake in pan-European clearing house EuroCCP, which is also based there.”
Cboe will continue to operate its existing Recognised Investment Exchange (RIE) in the UK. Cboe’s intention is to offer similar services in both the UK and EU entity, including a Regulated Market (RM), multi-lateral trading facility (MTF), APA and Benchmark Administrator.
Cboe Europe is the largest pan-European stock exchange by market share and value traded.