EU ‘unlikely’ to force swaps relocation – ex-MEP Swinburne

Multinational corporates would resist clearing move if CCP equivalence is lost, says former lawmaker

LCH and dragon
City of London’s LCH dominates euro swaps clearing, but for how much longer?

Influential former lawmaker Kay Swinburne predicts that the European Union will not force the continent’s corporates to face EU-regulated clearing houses, because it would disadvantage them in respect to netting positions.

At the end of 2020, the European Commission granted UK central counterparties (CCPs) an 18-month extension to equivalence – temporarily recognising UK oversight as equal to EU supervisory standards. But the deal runs out in June 2022, with the prospect that EU-based

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