Brexit could drive BATS operations out of UK

The damage to the business climate in London, should the UK decide to leave the European Union, could drive some or all of BATS Global Markets' operations from the country.

“Should the United Kingdom vote to withdraw from the European Union, there may be an unfavorable business environment for companies with operations in the United Kingdom that do business in the European Union,” the exchange operator said in a US regulatory filing on 29 January.

“In such a case, BATS Chi-X Europe may move some or all of its operations to the European Union and the related costs and expenses could have a material adverse effect on our business,” the company added.