Institutional investment network Liquidnet has announced the formation of a new Dublin-based entity.
Liquidnet EU, which will be based in located in the city’s International Financial Services Centre, has been formed to “address Brexit” and is authorised by the Central Bank of Ireland as a MiFID II investment firm and MTF operator.
Dublin was chosen for the location of the new entity due to its “well-established international financial centre with an appropriate and supportive financial regulatory regime”, according to Liquidnet, which detailed that it began preparations to open an EEA-based presence in early 2017 following the invocation of Article 50.
“It is vital that we continue to provide services to all our European clients, which include some of the world’s biggest institutional investors following Brexit,” said Simon Ormrod, chief operating officer, Liquidnet EMEA.
“Establishing our presence in Dublin ensures that our EU-based operations continue to give our clients global access to the same unique liquidity, innovation, and execution ecosystem that we currently offer from the UK.”Liquidnet is not the only firm that has chosen Dublin as a post-Brexit base of operations. Last year, other firms including Thomson Reuters (now Refinitiv), Plato Partnership and the DTCC all confirmed new operations based in the Irish capital.