On the fourth of January - the first trading day of the new year - left the United Kingdom to the countries of the European Union, and the value of 6 billion dollars of trading shares that included shares of French banks and German car companies moved from the British capital, London, to centers Alternative European finance such as Paris and Amsterdam.

This is what the British newspaper "The Independent" said, and the shift was a direct result of the European Union's financial regulations after the Brexit agreement which stipulate that the commercial exchanges of the Union companies - such as Volkswagen, Airbus and Bank BNP Paribas - Its remittances should remain within the countries of the bloc.

And the Aquis exchange - an alternative European trading system based in London - has seen almost all businesses move from the British capital to the Paris platform. The chief executive of the exchange, Alasdair Heinz, said during his statement this week in a sarcastic note that this transformation brought about by an agreement Brexit is a great UK goal against it.

He added that "Britain is now losing its very strong position to trade European stocks in London," noting that the matter will not be as it seems as before.

"We believe it is very unlikely that Europe, which has recently regained its trades, will allow it to move again," Belinda Kean, head of marketing at Aquis, told the newspaper.

She added, "A lot of French and German business was executed from London, and now it is done from within the European Union. We have regained our independence but they have regained their dealings."

The challenge facing London now in its relationship with the European Union countries is to preserve what remains (European News Agency)

Memorandum of Understanding

The newspaper confirms that trading in European Union shares is one of the sources of income for the British capital, and there are many other investment fields such as banking, insurance, currency trading and asset management.

She believes that the British government ministers were very optimistic about the future of financial services in the Kingdom after its exit from the European Union, as Prime Minister Boris Johnson confirmed - in a statement to the BBC on December 30 last - that London after Brexit will adapt and prosper greatly.

Although the post-Brexit agreement reached between the European Union and Britain specifically excluded financial services, the two sides agreed to seek to formulate a memorandum of understanding to establish a framework for regulatory cooperation in this area by next March.

Some observers spoke of an upcoming "breakthrough deal" between the two parties, but experts in the financial field believe that this speech is far from realistic.

One of them says, "It is only a matter of a memorandum of understanding that has little legal force, and this type of consensus generally relates to two countries that agree on the parameters of cooperation and plans for dealing with each other."

The newspaper believes that the most that the city of London can aspire to from the European authorities in the current circumstances is "parity" in regulating financial affairs locally, as it has done with Switzerland, the United States and Japan, which will allow the union companies to continue their usual operations in the Kingdom.

Financial transactions

The challenge facing London now in its relationship with European Union countries is preserving what is left of it, and the best that Boris Johnson's government can hope for - as some sources assert - is that the European authorities agree in the expected memorandum of understanding to hold intensive consultations before withdrawing The "parity" feature.

She adds that this is a very weak ambition for a financial sector that represents about 7% of Britain's economy, supports about 1.4 million jobs, and generates tens of billions of pounds in tax revenues and services exports.

But sector experts stress that this is a natural consequence of the Brexit policy, under which British ministers have given priority to issues such as fishing rights and sovereignty over protecting one of the kingdom's most profitable export sectors.