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The Fight for Euro Clearing After Brexit Spills Out in Public

  • LSE and Deutsche Boerse take shots at each other in London
  • Role of ECB perturbs LSE senior manager: ‘fills me with fear’

The battle to control euro clearing once the U.K. leaves the European Union is getting uglier.

LCH, the London Stock Exchange Group Plc unit that dominates euro clearing, wants to stop the European Central Bank from gaining the power to veto its decisions. Eurex Clearing, the Deutsche Boerse AG-owned subsidiary that would probably benefit most if London was stripped of euro clearing, says that clearinghouses should involve the ECB.