Kyte follows broker herd to Europe as Brexit looms

OTF provider lines up contingency plan to transfer London business to Paris entity

55 Baker Street, London, home of Kyte's UK headquarters. “Ideally, the equivalence regime will recognise trading venues established in the UK, thereby allowing us a much smoother transition,” says Michelle Zak

When Kamal Haider, chief executive of Kyte Broking, announced the launch of the firm’s organised trading facility (OTF) late last year, he spoke optimistically of the European Union’s second Markets in Financial Instruments Directive (Mifid II) as a “significant evolution for wholesale markets”.

Haider hoped the London-based institutional broker could offer complementary services to clients under the new pan-European regulatory regime. But at the back of his mind a nagging worry must have