Jane Street Chooses Amsterdam for Post-Brexit ETF Trading Base

(Bloomberg) -- Jane Street Financial Ltd., Europe’s second-biggest trader of exchange-traded funds, will serve its European Union clients from a new office in Amsterdam after Brexit.

The financial-services firm set up a new legal entity called Jane Street Netherlands BV at the end of last year, according to a register compiled by the Netherlands Chamber of Commerce. The New York-headquartered company is currently seeking regulatory approval from the Dutch Authority for the Financial Markets.

“We are in the process of applying for a license,” a Jane Street official said in an email.

The company will keep its traders and coders at its main European office in the Walkie Talkie building on London’s Fenchurch Street, but it has already staffed its new Amsterdam office with five people in back-office roles.

Jane Street’s decision to pick Amsterdam further cements the city’s status as an emerging center for trading venues and the firms that use them. Since the U.K. voted to leave the EU more than two years ago, venues such as Tradeweb, NEX Group Plc, Cboe Global Markets Inc., MarketAxess Holdings Inc. and Bloomberg LP, the parent of this news organization, have all chosen to put their post-Brexit hubs in Amsterdam.

Some of Jane Street’s biggest competitors are already in Amsterdam. Flow Traders NV, Jane’s larger rival in ETF trading, was founded in the city 14 years ago. Jane Street’s new office in the World Trade Center Amsterdam is a stone’s throw away from two other major Amsterdam-based trading houses: Optiver BV and IMC Trading BV.

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