The U.S. won the first round of attracting derivatives trading after Brexit disrupted European markets, according to IHS Markit.
Euro-denominated interest rate trading rose on U.S. swap execution facilities in the first two weeks of January to 23% market share, from 11% in December, the IHS data published Thursday showed. European platforms’ share declined to 35% from 42% in the same period.
Interest rate swaps denominated in U.K. pounds also moved to Wall Street, taking U.S. venues’ share to almost 23%, compared to about 11% in the month before the Brexit transition period ended.
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