By Huw Jones
LONDON, Nov 24 (Reuters) - Goldman Sachs said on Tuesday it
will launch a share trading hub in Paris, in the sector's latest
move to avoid disruption to customers after Britain's full
departure from the European Union next month.
London has long been Europe's share trading centre, but the
EU has yet to say if it will allow full cross-border share
trading to continue after December 31, when Britain's unfettered
access to the bloc ends.
Goldman said it plans to launch a SIGMA X Europe platform in
Paris prior to January 4, 2021, subject to regulatory approvals.
"We want to ensure that our clients continue to have access
to all of our key liquidity sources post-Brexit," said Liz
Martin, Goldman's global co-head of futures and equities
electronic trading.
SIGMA X Europe will trade shares listed across 15 European
markets, while its existing UK hub will continue to trade UK and
European listings.
Britain has said it will allow UK investors to continue
using share trading platforms based in the bloc from January.
Brussels has said that EU investors should use a platform
inside the bloc to trade shares denominated in euros, thereby
splitting markets and forcing major players like Goldman to have
a foot in both camps.
Three pan-European share trading platforms in London - CBOE,
London Stock Exchange's Turquoise, and Aquis Exchange - have
already obtained regulatory approvals for EU hubs.
Turquoise has said that without the EU agreeing to full
two-way market access by Nov. 30, it will start up its new Dutch
hub.
Also on Tuesday, British real estate investment trust Segro
listed its shares in Paris as UK companies
look to move assets and operations over to mainland Europe as
Brexit looms.
(Reporting by Huw Jones; Editing by Kirsten Donovan)