Bloomberg: Europe's biggest exchange warns `Brexit' may spur London exodus

01 February 2016

Bats Global Markets Inc., which runs U.S. and European stock markets, warned in a filing that a withdrawal by Britain from the European Union could damage the London business climate enough to drive some or all the company’s operations out of the U.K.

“Should the United Kingdom vote to withdraw from the European Union, there may be an unfavorable business environment for companies with operations in the United Kingdom that do business in the European Union,” Bats, the parent company of European arm Bats Chi-X Europe, said in a Jan. 29 filing.

“In such a case, BATS Chi-X Europe may move some or all of its operations to the European Union and the related costs and expenses could have a material adverse effect on our business,” Bats said.

Bats amended its U.S. public offering filing to reflect the risk. It joins a list of businesses warning that a vote to leave the EU could drive jobs and investment out of the U.K. Hannah Randall, a spokeswoman for Bats, declined to comment.

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