This file photo shows the view of a canal in Amsterdam with a woman on a bicycle on April 12, 2017. (AURORE BELOT / AFP)

Amsterdam overtook London as Europe’s largest share trading center in January after Brexit saw about half of the city’s volumes move to the continent.

Britain lost its rights to access the single market on Dec 31 and the European Union has not permitted investors inside the bloc to trade shares in companies such as Airbus SE and BNP Paribas SA from the UK. That’s seen more than 6 billion euros of daily EU share trading leave London since the start of the year.

An average 9.2 billion euros (US$11 billion) of shares a day were traded on various Dutch venues in January, a more than fourfold increase from December, according to data from Cboe Europe. That compares to average daily volumes in London of 8.6 billion euros.

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The data doesn’t account for the return of Swiss share trading to London, which only resumed last week. That may see the UK capital edge back ahead in February, although its average daily volumes will still be well below historic levels.

Britain lost its rights to access the single market on Dec 31 and the European Union has not permitted investors inside the bloc to trade shares in companies such as Airbus SE and BNP Paribas SA from the UK. That’s seen more than 6 billion euros of daily EU share trading leave London since the start of the year.

The shift reflects the failure to secure so-called equivalence rulings from the EU, on whether the UK’s rules are robust enough to enable seamless access for financial services. EU officials have said the bloc’s in no rush to make these decisions.

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The Financial Times reported the data earlier.