EC official hints at partial relocation of euro swaps

Commission yet to work out details such as which products and what share of stock may have to move

Leaky CCP: some legacy trades could stay in London

The European Commission has suggested only part, not all, of the euro-denominated swaps business could be forced to move to a European Union clearing house if a London-based venue is deemed of substantial systemic importance to the bloc.

In June, the EC proposed a mechanism through which EU entities could be barred from using a third-country clearing house – as LCH will become after Brexit – arguing a particularly systemically important central counterparty could be properly supervised only if