London Stock Exchange Attacks EU Grab for Clearing Post-Brexit
- Exchange warns markets would be damaged if clearing moved
- Euro clearing is key subject of tug of war between U.K., EU
The atrium of the London Stock Exchange Group's offices on Nov. 9, 2016.
Photographer: Chris Ratcliffe/BloombergThis article is for subscribers only.
London Stock Exchange Group Plc warned against a move from the European Union to limit euro clearing in its home city, saying the attempt would put investors and financial firms at risk.
Euro clearing is a key subject in a tug-of-war as the U.K. seeks to extricate itself from the EU, following its vote to leave the bloc last year. LSE argued that tearing euro swap clearing from its region would cleave the marketplace, to the detriment of its participants.