The former CEO of the London Stock Exchange, Xavier Rolet, says the loss of the City's European share trading crown to Amsterdam isn't the right yardstick to use when measuring the real cost of Brexit.

"It is a symbolic loss, but a sideshow nonetheless given the limited contribution made by listed European equity markets to the overall funding of European corporates," Rolet said in emailed comments to Financial News. "I would focus more attention on the trading and clearing of G-20 interest rate swaps as a future barometer of London’s attractiveness."