Amsterdam has displaced London as Europe’s biggest share trading centre after Britain left the European Union’s single market, and picked up a chunk of UK derivatives business along the way, according to data published on Thursday.

UK’s departure from the EU prompts shift in dealing of stocks and derivatives.

London risks losing control of its lucrative clearing market under new rules.

London’s status as the global hub for FX and derivatives trading is under threat for the first time since Brexit.

It will be years before the full impact of Brexit on Britain's financial sector is fully known as more activity could leave London for the bloc or other centres like New York, Bank of England Deputy Governor Jon Cunliffe said on Monday.

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.

UK-based derivatives clearing houses will no longer have access to the European Union after June 2025, the EU’s financial services chief has said.

The City of London suffered a loss of £2.3 trillion in a single month in its lucrative derivatives trading market, with Wall Street trading platforms the ones that benefitted.

Trade worth hundreds of billions has shifted from London to New York due to Brexit.

The European Union published three draft laws on Wednesday to lift economic growth by deepening its capital market through less reliance on post-Brexit London, cutting red tape on company listings and streamlining insolvency rules.

The European Union published three draft laws today to lift economic growth by deepening its capital market through less reliance on post-Brexit London, cutting red tape on company listings and streamlining insolvency rules.

Mandatory clearing of derivatives contracts by pension funds in the European Union should start in June 2023, helping the bloc to cut reliance on London, the EU's securities watchdog said on Tuesday.

Activity in first three months of year indicates UK's withdrawal from EU could remake financial centres across Europe in coming years. / A month after Britain voted to leave the European Union, Boris Johnson was asked whether he thought the finance industry would keep its rights to trade freely in the bloc. “I do, I do,” he told reporters. It was never that simple.

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.

There will be no access to the European Union for Britain's derivatives clearing houses after June 2025, the bloc's financial services chief Mairead McGuinness said on Friday.

The City of London’s chief coping mechanism for dealing with Brexit’s threat to the financial services business is to dismiss the loss of jobs and investment as a trickle rather than a flood.