Aquis Exchange revises no-deal Brexit stock trading strategy

LONDON (Reuters) – Aquis Exchange has revised its no-deal Brexit strategy to help steal a march on rivals industry by storm curbs on where investors can get and sell stocks.

The pan-European trading and investing platform said on Tuesday that customers will be able to trade EU27 listed stocks working in london and so on its new Paris platform from Monday morning if your UK leaves countries in europe lacking an exit deal. UK and Swiss shares would carry on being offered london only.

Britain can be due to leave the EU on Friday unless it secures a "standstill" transition agreement to prevent yourself from a disruptive departure. Pm Theresa May ask an EU summit on Wednesday for your hold back until no less than the end of June.

"Most volume in EU27 stocks would probably be done in London," Aquis Chief Executive Alasdair Haynes said in a very statement.

It originally planned to supply EU27 stocks in Paris to avoid harming prices by splitting trading.

Larger rivals Cboe and London Stock Exchange's Turquoise, who have new EU hubs in Amsterdam, have announced similar changes. Aquis says it turned out going a pace further by giving EU27 shares working in following a no-deal Brexit to cease national exchanges from the bloc utilizing the business.

Cboe and Turquoise have said they would aim to reintroduce EU27 shares working in later in the year.

The EU's markets watchdog ruled last month that fund managers could only trade 6,200 shares inside the bloc if Britain leaves without having a deal. They’re mostly EU27 listed stocks and also include 14 from Britain.

If Britain's Financial Conduct Authority takes tit-for-tat action to wish UK many EU shares being traded in great britan, it’d give Aquis a young edge over Turquoise and Cboe.

Such a retaliatory move was "highly likely", Haynes said. The FCA has declined to reply to its plans.

Aquis will revert for its preferred plan of trading EU27 shares only in Paris if it’s pay off the FCA won't introduce trading curbs, Haynes said.

"My understanding could be that the UK government is not going to wish to see EU27 business move from London to Europe and will do whatever it could possibly, unless a equivalence or financial services deal is agreed, to enable business to stay inside london," he explained. Buying and selling European government bonds and repurchase agreements on CME's London unit has gone after Amsterdam.