City Of London
Clearing Cliff Edge in 2025 Is Receding, EU’s Top Security Regulator Indicates
- EU banks will still be able do some clearing in UK, Ross says
- London clearinghouses still supply key services for EU traders
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European banks will still be allowed to do some clearing in London after 2025, according to the head of the European Union’s top securities regulator.
Verena Ross, chair of the European Securities and Markets Authority, hinted at a softer position than previously stated by the European Commission, which has indicated that UK clearinghouses would be cut off once the country’s post-Brexit waiver expires.