LCH braces for repo clearing relocation

UK clearing house aims to retain swaps clearing even if sovereign repo business relocates to the eurozone

LCH chief wants enhanced supervisory co-operation between the UK and the EU, rather than forced relocation

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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