Euro swaps clearing showdown pits banks against Brussels

Forcing swaps clearing to Frankfurt would play into hands of US rivals, say European dealers

Power brokers in the corridors of Brussels are sharpening their weapons as the fight for control of the $90 trillion euro-denominated swaps clearing business intensifies. Officials in the European Union, long irked that most euro swaps are cleared at London’s LCH, are pressuring banks and buy-side firms to shift contracts to Frankfurt’s Eurex.

Their persuasion tactics range from constructive engagement to veiled threats. In response, banks are warning law-makers that a forced migration of swaps

Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.

To access these options, along with all other subscription benefits, please contact [email protected] or view our subscription options here: http://subscriptions.risk.net/subscribe

You are currently unable to copy this content. Please contact [email protected] to find out more.

To continue reading...

You need to sign in to use this feature. If you don’t have a Risk.net account, please register for a trial.

Sign in
You are currently on corporate access.

To use this feature you will need an individual account. If you have one already please sign in.

Sign in.

Alternatively you can request an individual account here: