Securities finance service provider EquiLend has announced it will open a new office in Dublin to serve its European clients after Brexit.
With the launch of the new Dublin office, EquiLend said it will be able to continue offering its trading platform to clients in the European Union after the UK leaves the bloc.
The company also said it remains "fully committed" to the UK market, adding that it will keep its existing Canary Wharf office in London to serve its UK-based activity.
The company provides trading and post-trade services for the securities finance industry with offices in New York, London, Hong Kong, Toronto and now Dublin.
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.
The company also said today that it remains "fully committed" to the UK market, adding that it will keep its existing Canary Wharf office in London to serve its UK-based activity.
Laurence Marshall, managing director of EquiLend, said that after careful consideration the company decided that Dublin was the best location for its 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," he added.
EquiLend is awaiting approval by the Central Bank for multilateral trading facility status in Ireland and its move here is supported by IDA Ireland.