Goldman Sachs opens post-Brexit trading hub in Paris
Goldman Sachs announced on Tuesday plans to launch its equity trading platform, called Sigma X Europe, by 4 January in Paris, subject to obtaining the necessary authorisations. The bank will use the hub to spare its clients problems arising from the end of the Brexit transition period, at a time when the UK and the European Commission have still not agreed on a framework for their future relationship. Sigma X is the US bank’s multilateral trading facility (MTF), which matches buying and selling orders from both external actors and other Goldman Sachs entities. It handles about 0.4% of total volumes in European equities. Goldman Sachs will retain its Sigma X platform in London. In Paris, the Sigma X Europe MTF will be the hub for its EU-based clients.