Bürgenstock 2006: McCreevey may force exchanges to end clearing monopolies
High clearing charges are limiting the growth of Europe’s capital market and the European Commission should act now to open the clearing market to competition, according to speakers attending a Swiss Futures and Options Association conference in Bürgenstock, Switzerland.
The problem is that the clearing houses are effectively insulated from competition, said Phil Simons, head of client solutions at ABN Amro in London. “The biggest barrier to effective competition is the
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