March 12, 2019 / 2:18 PM / in 2 months

UPDATE 1-CME gets approval for Dutch platform to avoid Brexit disruption

(Adds more detail)

LONDON, March 12 (Reuters) - CME, one of the world’s biggest exchanges, said it has received approval from the Dutch finance ministry for its new trading platforms in Amsterdam to avoid disruption to customers from Brexit.

CME said on Tuesday its BrokerTec and EBS units can now continue to serve customers in the EU27, regardless of the form Britain’s departure from the EU takes.

The exchange confirmed it would move trading in European government bonds and European repurchase agreements (repo) from London to the new BrokerTec unit in Amsterdam.

Euro foreign exchange forward contracts and swaps will move from London to the new EBS unit in the Dutch financial capital.

Amsterdam has emerged as the most favoured location for trading platforms in London who need an EU hub to ensure continuity in business with European customers after Britain leaves the bloc.

The clearing of euro denominated bonds and repo trades has already moved from London to Paris.

Reporting by Huw Jones; Editing by Iain Withers and David Evans

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