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UBS expects London to lose 25% of a €1 trillion-a-day business due to Brexit





People walk past the London Stock Exchange Group offices in the City of London, Britain, December 29, 2017.

  • 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 >>>

Source:: BusinessInsider.Com

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