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XTX Prepares for Life Post-Brexit

XTX Markets (XTX) has chosen Paris as its post Brexit European hub, although the firm says that its headquarters will remain in London.

XTX has filed an application with the Autorité de Contrôle Prudentiel et de Résolution, the French regulator, to operate a regulated firm in France.

In a release issued today announcing the decision, XTX says that is opening an office in Paris as part of its preparation for the UK’s exit from the European Union. The firms adds in the release that it is committed to maintaining and further developing its liquidity provision to clients, platforms and exchanges across the European Union.

Zar Amrolia, co-CEO at XTX, says: ‘’As a leading liquidity provider across asset classes globally, it was important to select a location with a strong regulatory environment within which to operate. The French regulators have been very receptive to having a leading market maker such as XTX establish in France and we look forward to working with them to bring even more transparency and efficiency to markets across Europe.’’

XTX has applied to the French regulators to be authorised as an investment firm to trade across asset classes and also to operate a systematic internaliser in European equities. The firms says this will allow it to continue to build on its systematic internaliser offering and ensure its European clients can continue to access XTX liquidity.

Galen Stops

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