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“The outcome of the EU Referendum and the UK’s decision to no longer continue its EU membership will shape the direction of Europe’s financial markets for years to come.
“This decision will significantly affect UK-based financial services firms and their ability to serve their clients and customers across Europe.
“We are in uncharted territory and the details of the new EU-UK relationship will now need to be worked out over the coming months and years. These negotiations will be critical to the future of the UK’s role in Europe’s capital markets, which are key drivers of economic growth and prosperity in both the UK and Europe.
“As a pan-European trade group, AFME is ready to play a constructive role during the transition period, working with policymakers, regulators and financial market stakeholders. A key priority for AFME will be seeking to minimise any potential damage to capital markets in Europe. We urge the UK and EU authorities to pay close attention to the need for financial stability in the short run, and negotiators to focus on allowing these markets to continue to operate efficiently in the longer run. AFME will work closely with the UK Government and other