EU court to rule on UK challenge to ECB's clearing policy

Verdict due on March 4 in first of three UK complaints about eurozone clearing

John Redwood
Redwood: supported challenge to ECB

A three-year legal dispute between the UK government and the European Central Bank (ECB) over clearing house oversight is set to conclude on Wednesday, when the General Court of the European Union delivers its ruling.

If the ruling goes against the UK, it would leave intact an ECB policy that calls for clearers of euro-denominated products to be incorporated in the eurozone. That would hit clearing houses including CME Clearing Europe and LCH.Clearnet, which offer euro-denominated clearing from

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