Euronext, a pan-European stock exchange operator, has opted to pull a key part of its business from London since the UK is no longer a member of the EU. The firm's data center has been based in London for a decade, but its boss has decided to shift the hub to Bergamo, Italy to ensure it remains "at the heart of European markets". Stéphane Boujnah, CEO of Euronext, said his firm is simply following the new "trend" where European businesses are opting to leave the London market.

       Euronext had based its core data center, where the physical infrastructure of trades is executed, in London since 2011.

       However, the firm has just announced plans to shift its data center to Bergamo by the second quarter of 2022.

       Mr Boujnah told the BBC the move was about bringing the firm "back within the European Union".

       He described the UK as now being a "third country" and said the move was about ensuring Euronext was based in a more predictable market.

       He said: "We want to have a critical part of our infrastructure within a predictable regulatory environment.

       "And we have no visibility as to what will be the future of regulations applying to circulation of data between the European Union and a third country like what the UK has become post-Brexit."

       When asked if he thought more banks will decide to pull London operations, Mr Boujnah said the move was already underway.

       He said: "Well the trend has started, as you know, since the beginning of the year, a significant amount of equity trades have migrated to the European Union.

       "And anyone, post-Brexit, who wants to make business on European stocks, to serve European-based companies, has to establish operations within the EU."

       FOLLOW EXPRESS.CO.UK FOR LIVE UPDATES:

       1.30pm update: 'Thanks to Brexit, not despite!' Frexit campaigners hail Nissan's Sunderland major boost

       Brexit Britain's industrial success is reinforcing Frexit calls after Nissan pledged a substantial investment in Sunderland.

       Nissan Motor Co bet on Brexit Britain to supercharge its European electric future on Thursday, pledging ￡1 billion with its Chinese partner to build a giant battery plant that will power 100,000 vehicles a year including a new crossover model.

       Celebrating the news, Generation Frexit leader Charles-Henri Gallois wrote: "Nissan has announced its ￡1 billion investment in Sunderland, which will create 6,200 industrial jobs.

       "The Nissan spokesperson sees 'Brexit as an opportunity!' I have always said: from 'Despite Brexit' to 'Thanks to Brexit' Let's take back control. Frexit."

       12.30pm update: Brexit FURY: Rishi Sunak rages at EU - financial services equivalence 'has not happened'

       Rishi Sunak has lost patience with the European Union's attempts to strike a post-Brexit financial services deal, raging it "has not happened".

       Financial services were largely overlooked in nearly a year of trade deal negotiations between the two sides, which culminated in a last-minute agreement on December 24.

       Since then, a huge row has broken out between Britain and the EU, with the City of London seeking an "equivalence" arrangement with the bloc.

       But in the Chancellor's traditional Mansion House speech to the City, Mr Sunak said: “As I said in parliament in November, our ambition has been to reach a comprehensive set of mutual decisions on financial services equivalence. That has not happened.

       “Now, we are moving forward, continuing to cooperate on questions of global finance, each as a sovereign jurisdiction with our own priorities. We now have the freedom to do things differently and better, and we intend to use it fully.

       "But I can equally reassure you, the EU will never have cause to deny the UK access because of poor regulatory standards.”

       11.15am update: They FINALLY get it: Nissan performs major U-turn on Brexit... time for others to follow!

       Nissan has performed a major U-turn on Brexit after the Japanese car giant announced it will build a new electric model and huge battery plant in Sunderland.

       The move will create more than 1,600 jobs in the North East city and around 4,500 in supply companies as part of a massive ￡1billion.

       Prior to the Brexit deal agreed between the UK and European Union, Nissan had issued a warning over the Sunderland plant if the Government has not been able to secure a deal with the UK.

       But following this morning's announcement, chief operating officer Ashwani Gupta told the BBC: "The key success factor for Brexit has always been trade-friendly business conditions to sustain our business not only in the UK but in the whole of Europe. Thanks to Brexit, Nissan is moving forward to use Brexit as an opportunity."

       10.30am update: EU bullies threaten to turn lights off in Switzerland as Bern refuses to sign trade deal

       The EU has threatened to turn the lights off in Switzerland as relations continue to sour after the collapse of trade talks.

       Bern risks being booted out of the European electricity market as Brussels plays hardball with the Alpine nation after it refused to sign an all-encompassing agreement to manage trade.

       The energy sector is the latest battleground being used by the EU to force Switzerland back to the negotiating table. France has used similar threats in a bid to secure its fishermen access to waters off of Jersey.

       9.25am update: See you in court! EU states demands Boris be hauled in front of European judges

       EU nations have called on the European Commission to sue Britain if it does not provide better guarantees to citizens living in the country before Brexit.

       The warnings came as the June 30 deadline passed for millions of EU citizens living in the UK to register for “settled status”.

       Under the scheme, Europeans living in Britain had to apply to retain the right to remain, claim benefits and use healthcare services.

       The 2019 Brexit Withdrawal Agreement guarantees the rights of citizens living on either side of the Channel.

       But some EU member states are unhappy with the way the British Government has gone about registering Europeans living in the country.

       Diplomats have urged the Commission to launch legal action under the Brexit divorce deal if the situation doesn’t improve.

       8.40am update: Lord Frost declares victory: EU caves in crunch talks - but major clash lies ahead

       Lord Frost has claimed the EU has caved in talks on the Northern Ireland Protocol after the grace periods for moving chilled meats were extended.

       The UK and EU have agreed to prolong the grace period on customs checks for a further three months until the end of September.

       Britain had written to the European Commission last month to ask for an extension to the grace periods while negotiations could take place on a more permanent solution.

       Ministers have accused the EU of being "purist" in its implementation of the Protocol and said it needed to show more pragmatism.

       8.05am update: Brexit victory! Nissan announces new ￡1BILLION car plant - 6,200 jobs created

       Nissan has announced plans for a ￡1billion gigafactory in Sunderland on the same day voters go to the polls in the Batley and Spen by-election.

       Tories are hoping the announcement for the new factory will give them a boost at the polls in the Yorkshire seat.

       The Conservatives are confident of winning the once Labour stronghold, delivering a devastating blow to Sir Keir Starmer.

       Nissan had previously threatened to leave the UK due to the country leaving the EU, with the announcement of the new mega-investment seen by the Government as a huge win for Brexit Britain.

       The Sunderland plant will be the site responsible for making a new electric “cross-over” car that will be exported to the continent.