EquiLend opens Dublin office to deal with post-Brexit business

EquiLend has become the latest company to set up an office in Dublin to serve its European clients once the UK leaves the European Union.

The company, which provides trading, post-trade, market data and clearing services for the securities finance industry, said its office would be located at South Point, Harmony Row in Dublin.

EquiLend Limited, the Irish entity, will offer the company's trading platform to clients transacting in the European Union once Brexit has completed. It is awaiting approval by the Central Bank of Ireland as a multilateral trading facility.

The company's Canary Wharf office will continue to serve its UK-based clients and activity. It is owned by BlackRock, Credit Suisse, Goldman Sachs, JP Morgan, JP Morgan Chase, Bank of America Merrill Lynch, Morgan Stanley, Northern Trust, State Street and UBS.

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Tech centre

"After careful consideration, we decided that Dublin was the best location for EquiLend's new EU-based entity. The ease of doing business in Ireland, its commitment to fintech and reputation as a tech centre of excellence, its location in the EU and the network of talent available here together made Dublin a clear choice for EquiLend's EU operations," said managing director Laurence Marshall.

EquiLend also has offices in New York, Toronto, Hong Kong and London.

The news was welcomed by Minister for Business Heather Humphreys. "Ireland is now a very attractive location for financial services companies from all over the world," she said. "As we face into the challenges of Brexit, we are determined to pursue and seize new opportunities, and the Government has therefore been making strenuous efforts to ensure that we have the right conditions in place to continue to attract investments like this."