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Goldman Sachs will open a center in Paris in 2021 so as not to isolate itself with Brexit



Goldman sachs announced this Tuesday the creation of a headquarters in the French capital, as the latest move in the sector to avoid interruption of customers with the definitive exit of the United Kingdom from the Union, which will be effective next month.

For a long time, its nerve center in Europe was located in London, and although the European Union has not yet advanced whether it will allow cross-border trading of shares to continue after the exit of this block that will be effective on December 31st.

The company intends to launch a platform SIGMA X Europe in Paris before January 4, 2021, subject to regulatory approvals. "We want to ensure that our clients continue to have access to all of our key post-Brexit sources of liquidity," said Liz Martin, Goldman's Global Co-Head of Equity and Futures E-commerce. SIGMA X Europe will be the one who markets the shares listed on 15 European markets, while its current center of London will continue to trade the shares in the United Kingdom and part of Europe.

Brussels announced that all EU investors must use a platform located within the bloc to trade shares denominated in euros, thus dividing the markets and forcing major players such as Goldman to have a foot in both fields and locate new headquarters in European cities. While from Great Britain they state that they will continue to allow UK investors to use block-based equity trading platforms from January.

Other pan-European equities trading platforms located London such as CBOE, Turquoise of the London Stock Exchange and Aquis Exchange They have already obtained regulatory approval for the new EU centers.



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