Business & Finance

Reuters exclusively reports French bankers seek EU law to move euro clearing from London

Reuters exclusively reported that France’s banking industry body wants a new European Union law that would force non-EU banks to shift swathes of euro derivatives clearing from the City of London to Frankfurt. Since Britain fully left the European Union in December, the City of London finance industry has lost access to its biggest market and trading in euro shares and swaps have moved to the EU. Brussels is now targeting euro clearing and last week began a fact-finding mission by meeting with banks. 

Article Tags
Topics of Interest: Business & Finance
Type: Reuters Best
Sectors: FX & Fixed Income
Regions: Europe
Countries: EnglandFrance
Win Types: Exclusivity
Story Types: Exclusive / Scoop
Media Types: Text
Customer Impact: Important Regional Story
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