CCPs and Brexit: don’t forget the rest of the world
Brexit creates speculation CCPs will activate contingency plans if ECB mandates on euro-denominated trades
UK-based clearing houses face a prolonged period of uncertainty after the UK's Brexit vote as they consider whether they need to move their operations to a new jurisdiction. Equivalence between the UK and non-EU countries could be a more important concern than threats from France to force the repatriation of euro clearing. But moving clearing operations from the UK to another jurisdiction is not a straightforward task.
The next UK prime minister will face two main alternatives if he or she
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