在英国退欧后的环境下，为了服务欧洲客户，需要在欧盟建立一个独立的子公司。根据BCG (Monger, 2016)，资本市场运营一年的运营成本可能会增加8%到22%。
Equity derivatives have benefitted from increased volatility and gains arising out of hedging activities. Foreign exchange trade revenues are likely to benefit from increased volatility in the exchange rates. All these factors are taken into consideration.
What happens to a non-European bank that has corporate banking, investment banking or asset Management Operations and is located in UK and provides services to EU (and does not have any branches elsewhere in the EU)?
This problem is with non-EU banks rather than banks based out of UK. The study concludes that the corporate, investment banking and asset management performance would be affected. The losses of passporting rights are likely to affect the non-European banks more than the European banks.
In the post Brexit environment, an independent subsidiary needs to be set up in the EU in order to serve European clients. The operating costs for a year for capital market operations are likely to increase by 8% to 22% according to BCG (Monger, 2016).