City of London Wants UK to Step Up Talks on EU Financial Ties

The UK and European Union should have a “more serious” conversation about how they can step up their cooperation in financial services to boost both economies, according to the City of London’s governing body.

The links between the regions’ financial markets remain strong even after relocations during the Brexit process, according to a report published Wednesday by the City of London Corporation and New Financial, a think tank backed by the finance industry. For example, two thirds of euro derivatives still trade in London, after regulators backed off from forcing more of the market into the EU.