Thomson Reuters Corp. is set to move its foreign exchange derivatives trading business to Dublin from London in anticipation of Britain's planned exit from the European Union in March 2019, Reuters reported.
The company has applied to the Irish central bank to transfer its foreign exchange multilateral trading facility to Dublin. The transfer will involve all client relationships of the trading facility, as well as fixed income callouts and auctions. The move will allow it to continue selling into the EU's single market, according to the report.
Thomson Reuters plans to hire some new personnel for its new Irish legal entity, Neill Penney, the company's co-head of trading, said. All spot forex trading and post-trade services will remain in London.