Europe’s biggest share-trading exchange has made a dramatic about-turn on its plans for a no-deal Brexit, potentially meaning billions of euros of securities will remain available for trading in London.

Cboe Europe, where traders bought and sold an average €10.4bn of shares every day in 2018, has backed out of previous plans to permanently remove EU27 shares from its London-based venue in the event that the UK leaves the EU without a deal. The exchange had originally planned to keep UK and Swiss shares in London, while moving EU27 shares to Amsterdam.