U.K. to Fight Monopolistic Derivatives Exchanges in EU Talks
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Britain will fight “monopolistic” exchanges in the European Union in a bid to boost competition in the market for clearing derivatives trades, according to U.K. Financial Secretary to the Treasury Sajid Javid.
“This is absolutely key to us,” Javid said in an interview with Bloomberg News on Nov. 5. The U.K. is pushing for “more competition and greater transparency on exchanges. A key part of that is not tolerating monopolistic practices by certain exchanges or clearinghouses.”