London’s banks are on the move. Unwilling to wait for clarity on the terms of the UK’s exit from the European Union, they are choosing new homes for their regional businesses – decisions that have been taken in the middle of a media scrum.
But the city is also quietly preparing for a second exodus – of cleared euro interest rate swaps from LCH, a venue EU firms may be barred from using after the UK goes its own way. This relocation would be no less historic: market participants estimate around
The week on Risk.net, October 6-12, 2017Receive this by email