Buy side divided on euro swap clearing move
With eurocrats dithering on extension of LCH waiver, asset managers mull when – or if – to jump ship to Eurex
Asset managers are split on whether to shift euro interest rate swap trades out of UK clearing house LCH and into German rival Eurex as the clock ticks down on a deadline to relocate the activity to the European Union.
The European Commission has granted a temporary waiver for EU-based firms to continue clearing euro swap trades at LCH, but the arrangement expires in June 2022 and the commission is undecided over its plans to extend the relief.
The uncertainty has led buy-side firms to adopt
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