The London Stock Exchange Group PLC (LON:LSE) is looking to go Dutch so that it can continue to serve European customers in the event of a ‘hard’ Brexit, according to Reuters.
The newswire reported that the FTSE 100-listed bourses operator has applied for several trading and trade reporting licences so that it can operate from Amsterdam if the UK leaves the EU without a Brexit deal.
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Reuters said the LSE told it on Tuesday that: “We can confirm that as part of our contingency planning for a hard Brexit scenario, Turquoise, TRADEcho and UnaVista have applied for a select number of additional licences to continue to offer their services to EU-27 customers from Amsterdam.”
The move comes as the LSE prepares to welcome a new boss, with David Schwimmer, a senior executive at Goldman Sachs to join the group in August.
Schwimmer, who’s appointment was announced in April, will take the reins from David Warren, the LSE’s chief financial officer and interim CEO, who stepped in after the early departure of well-liked former boss Xavier Rolet.
Rolet was asked by the board to quit a year ahead of plan amid a row over succession that dragged in one of the Stock Exchange’s biggest investors.