LCH braces for repo clearing relocation
UK clearing house aims to retain swaps clearing even if sovereign repo business relocates to the eurozone
The new chief executive of LCH has conceded that “maybe London is not the optimum place” to clear repo trades involving eurozone government securities following the UK’s decision to leave the European Union.
“One can consider debt markets and repo markets of the eurozone being cleared in London maybe having a different systemic risk profile, especially in a time of crisis, perhaps in the eurozone. As we start to go through the portfolio, you can start to see different solutions or different
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