Bloomberg reports that Chicago-based proprietary trading groups
Radix Trading and Hard Eight Trading have both chosen Amsterdam
over London as a base for their European operations.
The move will help to bolster Amsterdam's reputation as a hub for
proprietary trading, with Dutch groups Optiver, IMC and Flow
Traders already based in the city.
Background and commentary
Following Brexit, financial firms are eschewing London,
Europe's historic financial capital, in favour of other
locations in the EU. For banks, Dublin seems to be a favourite
for back and middle office operations, while Frankfurt is the
city of choice for the front office. Network effects and a
regulator used to governing HFT firms might explain Amsterdam's
appeal to prop trading groups.