London was overtaken by Amsterdam as the main European market centre in January, as more shares were traded in the Dutch capital. The shift, which initially looked ominous for City traders, comes as Brussels still refuses to recognise most UK regulatory systems as equivalent to its own post-Brexit.
Paris and Dublin also gained in trade volume, as Michel Barnier signalled the EU will not climb down from its demands if a financial services deal is to be agreed with the UK. But City traders and Chancellor Rishi Sunak, as Professor David Blake pointed out, need not worry.
