Stripping Britain of a €930 billion daily business after Brexit could cost investors €100 billion
|05/22/2017||Posted by BusinessMediaguide.Com under General World News||
LONDON — The CEO of the London Stock Exchange is warning that taking euro clearing away from London post-Brexit could end up costing investors an extra €100 billion (£86 billion, $111.8 billion) over five years.
Xavier Rolet writes in The Times on Monday that moving euro clearing out of London would “increase, not reduce, levels of systemic risk and increase costs for European companies, diverting capital away from the European economy.”
London has become the hub for clearing euro-denominated trades and swaps since the financial crisis. Clearing houses sit in the middle of trading contracts to guarantee them in case one read more >>>