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

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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