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Payments General

RBS considers making Amsterdam its EU base

Monday 7 August 2017 | 11:00 AM CET

Royal Bank of Scotland has initiated discussions with Dutch central bank to use the Netherlands as its trading base in the European Union after Brexit.

RBS already holds a banking license in The Netherlands and plans to beef up its presence on the continent to prevent business disruptions caused by Brexit negotiations.

The bank’s representatives said that they will invest in building up the Amsterdam unit, so that its trading division NatWest Markets can continue to operate smoothly after Brexit. The bank also plans to bring the unit’s total number of employees to 150.

Amsterdam, with some of the world's fastest data links and a history of high-frequency trading has been attracting financial market platforms looking for a post-Brexit base in Europe with both Tradeweb and MarketAxess saying they would move to the city, reports Reuters.

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