LONDON (Reuters) – The trading of dual-listed shares in Britain by European investors is expected to continue after Brexit, a senior official at pan-European exchange Euronext has said.
Investors in the bloc can only trade shares on foreign platforms that EU regulators have deemed to be “equivalent”, meaning they comply with customer protection and other rules that are similar to those in the EU.
Britain - Bloc - Month - Brussels - Equivalence
Britain is due to leave the bloc next month and Brussels has not pre-emptively made an “equivalence” decision regarding UK trading venues in case of a no-deal Brexit.
Without a deal to ensure a smooth departure, European investors who want to trade in London in the shares of a company that is also listed on an EU exchange would be cut off from a big pool of trading, which could mean less competitive prices.
Anthony - Attia - Executive - Euronext - Paris
Anthony Attia, chief executive of Euronext’s Paris operation and head of global listings, said the bourse was “actively working” with regulators to make sure its double listings in Dublin, Amsterdam and Paris would continue to benefit from a European pool of liquidity.
The European Commission is responsible for granting equivalence to foreign financial operators, taking advice from the European Securities and Markets Authority (ESMA).
“We are confident...
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