Tradeweb Markets LLC has submitted an application with the Netherlands Authority for the Financial Markets to establish a fully regulated entity within the EU in Amsterdam, Reuters reported, citing an emailed statement from the U.S.-based electronic fixed-income trading platform operator.
A spokeswoman for Tradeweb said the firm's current and lone European operation in London would remain after the U.K. exits from the bloc, even as the new office in Amsterdam serves as the firm's electronic trading hub for its clients based in the EU, according to the report. The new base is expected to benefit from Amsterdam's regulatory environment and infrastructure.
Enrico Bruni, head of Europe and Asia business at Tradeweb, said the Amsterdam office will be the firm's "new expression" of its mission to provide investors uninterrupted access to liquidity across a range of products, according to Reuters.
MarketAxess Holdings Inc. was also recently reported to have selected Amsterdam as its EU headquarters post-Brexit.