London Starts to Win Back Swiss Share Trades in Brexit Boost
- Cboe Europe has 4.4% of market, down from 17% before ban
- Swiss equities are barred from venues in EU, which U.K. left
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The return of Swiss share trading to London has begun, with initial signs that the city’s exchanges are hosting between a quarter and a third of the volumes seen before a European Union-wide ban.
Cboe Europe had a 4.4% market share of trading in stocks like Nestle SA and Novartis AG by midday on Thursday, with about 68.9 million euros ($82.3 million) changing hands. This is down from 17% before Switzerland barred trading in a spat with the EU. Aquis Exchange Plc had about 2% market share on the first full day since the U.K. ended an 18-month hiatus for Swiss equities, down from a 6% share.