Commission’s CCP powers ‘might not lead to exodus from UK’

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The European Commission

Proposals by the European Commission (EC) that it should gain the power to order central counterparties (CCPs) engaging in euro-denominated clearing to move to a jurisdiction within the European Union will not necessarily lead to an “exodus” from the UK, some commentators tell Central Banking.

A majority of euro-denominated clearing activities are currently carried out in the UK, which is currently in negotiations to leave the EU. European Central Bank (ECB) executive board member Benoît Cœuré

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