https://www.ft.com/content/3dad4ef3-...3-f629a5b7d0aaAn average €9.2bn shares a day were traded on Euronext Amsterdam and the Dutch arms of CBOE Europe and Turquoise in January, a more than fourfold increase from December. The surge came as volumes in London fell sharply to €8.6bn, dislodging the UK from its historic position as the main hub for the European market, according to data from CBOE Europe.
The shift was prompted by a ban on EU-based financial institutions trading in London because Brussels has not recognised UK exchanges and trading venues as having the same supervisory status as its own.
Without this so-called equivalence to ease cross-border dealing, there was an immediate shift of €6.5bn of deals to the EU when the Brexit transition period concluded at the end of last year. It was about half of the amount of business that London banks and brokers would normally handle.
I donno, feels like losing 40% of financial trade overnight was kind of what people were saying would happen.
(and yes, London has trended up a little since this and now barely edged out Amsterdam by the thinnest of margins. That doesn't change the expected flight of trade happening as predicted)