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Franfurt to suck €800 billion out of London if May's Brexit goes ahead.

Frankfurt Main Finance, FMF, the Frankfurt lobby group, says it expects assets worth 750 to 800 billion Euros to transfer from London to Frankfurt by the end of Q1 2019. It notes that 37 financial institutions have applied to the ECB for new or extended trading licences so far, with 30 settling new operations in Frankfurt. Not surprisingly, FMF welcomes Mrs May's Brexit deal and urges the UK to ratify it.

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