Thomson Reuters to Move Forex Trading to Dublin Pre-Brexit

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Thomson Reuters is planning to transfer its widely used foreign exchange derivatives trading from London to Dublin to be ready for the UK’s departure from the EU next year, the Irish Times reported. In a media advisory note sent on Tuesday morning Thomson said it had commenced the process of applying to the Central Bank of Ireland for authorisation to operate the business here. The move of the company’s multilateral trading facility comes directly as a result of the UK’s planned departure from the European Union, Thomson Reuters said. It will be used to cover Thomson Reuters’ derivatives business, the largest in Europe, which trades more than $300 billion (€252 billion) a day. The business is part of the Thomson Reuters trading operations being bought by private equity group Blackstone for $17 billion. Read more. (Subscription required.)