UBS expects London to lose 25% of a €1 trillion-a-day business due to Brexit
|09/13/2018||Posted by BusinessMediaguide.Com under General World News||
- UBS: LCH, the London clearing house owned by the London Stock Exchange, is likely to lose at least 25% of its euro clearing volumes as a result of Brexit.
- LCH processes the bulk of all euro clearing in the UK, which is a €1 trillion-a-day business.
- Even if Britain avoids a “hard” Brexit, UBS expects volumes to shift to the continent as regulators order firms to do so to guard against the potential risk.
- Deutsche Bank, Barclays, and HSBC have all moved some of their euro-denominated clearing business to the continent in recent months.
LONDON — UBS expects London to lose at least read more >>>