Brexit Is Pushing More Settlement Business Toward Brussels
- Euronext has preference for Belgian solution, briefings show
- U.K.’s Crest likely to lose passporting rights after Brexit
The Irish national flag flies from the flagpole at the Irish Stock Exchange in Dublin.
Photographer: David Levenson/BloombergThis article is for subscribers only.
Euronext NV, the owner of Ireland’s stock exchange, favors moving the settlement of Irish shares to Brussels after Brexit, according to briefings to industry.
Ireland -- the only European Union member without its own central securities depository -- has relied on a U.K.-based firm called Crest to settle trades since the 1990s and the dawn of electronic financial markets.