City of London’s Brexit Tab Rises With Stock and Swaps Moves
- Share trading, interest rate swaps and jobs are leaving
- London’s backers insist it will flourish as a global hub
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The City of London has little to celebrate from the first six weeks of freedom from the European Union.
The financial district lost its crown to Amsterdam as Europe’s top place to buy and sell stock. Traders have shifted interest-rate swaps out of the U.K. capital. Relocations of bankers are set to continue in 2021.