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London keeps central role in euro clearing ahead of Brexit

Reuters  |  LONDON 

By Huw JonesLONDON (Reuters) - London has kept its central role in clearing euro financial transactions ahead of Brexit, but European Union rivals have stepped up efforts to attract business, the CEO of the London Stock Exchange's clearing arm LCH said on Wednesday.Euro clearing has become a political battleground since Britain voted in 2016 to leave the EU. LCH dominates clearing in euro-denominated instruments such as debt repurchase agreements and interest rate swaps from its base in Britain and increasingly from its French subsidiary.Britain is due to leave the EU next month, but the bloc ...

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First Published: Wed, February 13 2019. 18:52 IST