Cboe Europe delays launch of Amsterdam trading venue

Amsterdam trading venue was due to go-live on 1 April, but as Brexit negotiations continue Cboe Europe has postponed launch.

Exchange operator Cboe has postponed the launch of its Amsterdam-based European trading venue in the wake of the EU’s decision to grant the UK an extension o its withdrawal from the European bloc.

Cboe Europe was due to operate an equities multilateral trading facility (MTF) and approved publication arrangement (APA) via its new entity in the Netherlands on 1 April, but in a memo sent to clients, Cboe confirmed the launch would be delayed.

“The delay will allow customers the opportunity to further enhance their transition capabilities, as well as enable Cboe to on-board additional participants, conduct further operational testing, and ensure full customer readiness for launch,” the memo said.

Cboe Europe added that it is closely monitoring the discussions around Brexit and will offer clients an update on the launch date in due course. At the same time, Cboe reiterated that clients with EU entities can still connect to and trade on its UK exchange until the Amsterdam-venue goes live.

In March, Cboe announced it had received regulatory approvals from the Dutch Authority for the Financial Markets (AFM) to establish the trading venue Amsterdam. Adam Eades, currently chief legal and regulatory officer at Cboe Europe, has also been appointed by Cboe Europe to oversee the operations in Amsterdam once it launches.

The exchange will continue to operate its recognised investment exchange (RIE) in the UK and will offer the same services at its trading venues in the UK and Amsterdam. All EEA-listed symbols will be traded on the Amsterdam, while Swiss and UK-listed symbols will trade on the UK venue.