The Financial Times reports that bankers are predicting an outflow of capital-raising from the London market to Frankfurt, forcing UK investors to buy euros before applying for shares listing on the Nasdaq iX, even for UK-domiciled companies.
British institutional investors are already expressing concern that such a development would expose them to severe currency risk.
They believe they will face a significant barrier relative to euro investors.
The London Stock Exchange and Deutsche Borse announced on Wednesday they had entered into a joint venture with the US-based Nasdaq to create a new pan-European exchange for high growth stocks.
The joint venture follows their decision to merge their main exchanges to form iX (International Exchange).
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