Chicago-based Cboe Global Markets has announced it will open an Amsterdam office ahead of Brexit.

Cboe, which owns the Chicago Board Options Exchange, chose Amsterdam ahead of Dublin. The company is the largest pan-European stock exchange by market share. It will maintain its London operation to serve the UK market but Amsterdam will be its European base.

‘We believe that the Netherlands is supportive of competitive and open financial market infrastructure and we feel Amsterdam is a fantastic location to establish our EU venue,’ said Mark Hemsley, president of Cboe Europe.

Amsterdam’s high internet connectivity speeds are one of the factors that have persuaded other London financial firms to relocate to the Dutch capital. Tradeweb and Market Axess are among those that have made the move.

Britain is set to leave the EU next March, but many of the issues remain unresolved.