Derivatives
Brexit Starting to Loosen London’s Grip on Interest-Rate Swaps
Frankfurt positions itself to win derivatives clearing.
The financial district in Frankfurt, Germany.
Photographer: Jasper Juinen/BloombergThis article is for subscribers only.
“We are going to need to go for a drink to talk this through, rather than having it out in the open.”
What dispute drives regulators to resort to alcohol? The fate of euro clearing after Brexit. The offer from Brian Bussey, the U.S. Commodity Futures Trading Commission official responsible for clearing, was to Jochen Metzger, who does the same job at Germany’s Bundesbank.