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LONDON (Reuters) - The shift in euro share trading from London to the European Union since Brexit is damaging to all of Europe because it fragments markets, a top British Finance Ministry official said on Wednesday.
Buildings are seen in the Canary Wharf business district, amid the outbreak of the coronavirus disease (COVID-19), in London, Britain January 27, 2021. REUTERS/Peter Cziborra
Britain left the EU on Dec. 31 and over 6 billion euros a day in euro share trading moved on Jan. 4 from London to platforms in Amsterdam and Paris.
Some trading in derivatives has also moved from London to the EU and New York, with trading in EU carbon emissions set to follow as the City adjusts to having little access to the bloc.