There are “limited ways” to maintain capital markets integration to the benefit of both the UK and the EU post-Brexit, says an industry trade body in a new paper, warning that the referendum vote risks fragmenting markets across the continent despite plans for a union.

In an October 4 working paper titled European capital market integration post-Brexit, the International Capital Market Association wrote that maintaining integration of European capital markets after the UK leaves the bloc would be of "mutual benefit" to both parties.