London to Remain Europe’s Financial Center Despite Brexit

Despite the Brexit, London is expected to maintain a big role in the European financial market, Reuters reported.

It was expected that many company will leave the UK capital, thus, affecting the place of London as a global financial hub.

However, it now seems that Frankfurt will not be making the previously expected gains from the Brexit, as the German financial center was expected to attract billions of derivatives clearing, but the COVID-19 pandemic has limited this transformation.