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Online betting giant Flutter this week took the first step to switch its main listing from London to New York, in a fresh post-Brexit blow to the City finance district.
The “idiocy” of Brexit is partially to blame for one of the UK's largest tech firms choosing to list on the New York Stock Exchange over London, the company's co-founder has warned.
UK stock market valuations have slumped since the 2016 vote to leave the EU.
London’s IPO market share has dropped since the Brexit vote as British companies seek to list in New York.
London continues to lag behind New York as the most attractive financial centre of the world, an apparent legacy of Brexit that has made the UK capital take the second spot in Global Financial Centres Index (GFCI) rankings for the third year in a row.
New York has increased its market share in trading euro interest rate swaps at London’s expense, data group OSTTRA said on Thursday, in the latest sign of how global financial markets are being permanently fragmented by Brexit.
The fragmentation of Europe's capital market due to Brexit has increased operating costs for banks to the point where some struggle to make their UK and EU hubs viable, a report showed on Tuesday.
The City of London lost 2.3 trillion pounds ($3.3 trillion) of its lucrative derivatives trading business in March alone, with Wall Street trading platforms gaining the most from Brexit.
'New York has continued to gain at London’s expense,' following the 2016 Brexit referendum
Trade worth hundreds of billions has shifted from London to New York due to Brexit.
An EU forum for discussing financial services with Britain will be similar to what the United States has, and it must be in place before market access will be considered, the bloc’s financial services chief said on Monday.
The role of the London Stock Exchange as a hub for global share trading is changing following the U.K.’s exit from the European Union.
This is the most chilling explanation of what Brexit will do to the UK economy after December. By @AdamPosen, President of the Peterson Institute for International Economics.
Survey of top bankers and asset managers puts Wall Street in front of the City as favoured location for financial services.
The government has spent $15.9m (£12m) on a luxury apartment in New York for a British diplomat working to negotiate trade deals with the US.