Derivatives Trading Fled Europe for New York After Brexit
- U.S. swap venues got boost to market share in early January
- IHS Markit data show trades based in U.K. pounds also moved
Photographer: Spencer Platt/Getty Images
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The U.S. won the first round of attracting derivatives trading after Brexit disrupted European markets, according to IHS Markit.
Euro-denominated interest rate trading rose on U.S. swap execution facilities in the first two weeks of January to 23% market share, from 11% in December, the IHS data published Thursday showed. European platforms’ share declined to 35% from 42% in the same period.