This is a good summary of Brexit's expected impacts on European exchanges. In short: - More fragmentation = less liquidity - $ moves from UK to EU on Jan 4 - Bad for LSE, good for ENX, DB1https://www.reuters.com/article/us-britain-eu-markets-trading/brexit-big-bang-to-trigger-tectonic-trading-rift-in-europe-idUSKBN2930HQ?source=content_type%3Areact%7Cfirst_level_url%3Anews%7Csection%3Amain_content%7Cbutton%3Abody_link …
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Replying to @HideNotSlide
Why’s it bad for LSE and good for ENX and DB1? Liquidity moves but not the economics accruing to the companies.
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Replying to @TupperPrice
I think it could be bad for LSE bc less liquid markets are more vulnerable to competition. If firms are changing geographies there's a better chance they'll change venues as well with the right incentives.
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Replying to @HideNotSlide @TupperPrice
Sadly, it's a bit more complicated. Unlike the US, here in Europe exchanges don't trade each other's listed stocks in the way NYSE, CBOE and Nasdaq do.
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John Handel Retweeted John Handel
I still remain largely convinced by this piece. The volume of financial services centered in London, and especially the LSE, is too much, there is no mature competitor, and there seem to be relatively easy work arounds (Turquoise servers in Amsterdam for instance)https://twitter.com/_John_Handel/status/1334519920374280193 …
John Handel added,
John Handel @_John_HandelBig news: The London Stock Exchange’s acquisition of data provider Refinitiv seems set to be cleared by EU authorities. Brexit uncertainty had thrown this deal in doubt h/t@johannes_petry https://www.marketwatch.com/story/eu-to-approve-lse-acquisition-of-refinitv-reuters-2020-12-03 …Show this thread1 reply 0 retweets 3 likes -
Replying to @_John_Handel @staffordphilip and
John Handel Retweeted Jan Fichtner
Oops. Wrong paper. This onehttps://twitter.com/fichtner_jan/status/1333369343485374464 …
John Handel added,
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Yes it was a good piece. I had a shot at it here, a couple of years agohttps://www.ft.com/content/7c44100e-d601-11e8-ab8e-6be0dcf18713 …
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Replying to @staffordphilip @_John_Handel and
And then again a few weeks agohttps://www.ft.com/content/f7845948-e3bd-4e5f-ab7d-55c8eb116569 …
2 replies 0 retweets 2 likes
Perfect, I have an afternoon's worth of helpful Brexit reading just in time for Jan 4
Thanks for sharing
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