Clearing houses may face greater competition

He pointed to “Project Turquoise” as an example of what may happen if the status quo remains. The European plan involves seven banks (Citigroup, Credit Suisse, Deutsche Bank, Goldman Sachs, Merrill Lynch, Morgan Stanley and UBS) creating an equities trading platform to rival the London Stock Exchange.

Earlier at the conference in a panel chaired by Hardy, heads of clearing houses at various exchanges were in agreement that clearing houses, or central counterparty (CCP) clearing organisations

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