So while the UK looks at streamling financial services, cutting back on regulation and making it easier to trade with the UK. The EU hopes to give this service over to the US, while making it harder and more expensive for EU businesses to use clearing.
Well played EU.
….until 2025 comes along and it will be extended again
90% of clearing done in the UK with little to no change since 2016. I am sure Amsterdam, Frankfurt and Paris are going to clear everything up in 3 years time……
Haha brexiteers having difficulties with accepting they won. Never gets old. Hehe
When this eventually happens and no jobs leave the UK and tax revenues don’t change there’s going to be a lot of people wondering why this was such a big deal.
Almost all clearing in London is done by 1 division of 1 company. The London Clearing House, owned by The London Stock Exchange.
This is about regulators having oversight and a prestige problem for the EU. In practical terms it makes no difference to London or the EU cities that the market might move to.
Is it just a matter of pride? What’s the actual issue with the clearing being done in London anyway? Seems kind of petty to me.
Yeah…we’ll see about that. I’m guessing that come June 2025 there’ll be some reason they come up with to kick the can down the road when it’s obvious that the business still won’t be moving back to the EU and the EU is faced with the prospect of seeing Euro trading and businesses in the shit.
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So while the UK looks at streamling financial services, cutting back on regulation and making it easier to trade with the UK. The EU hopes to give this service over to the US, while making it harder and more expensive for EU businesses to use clearing.
Well played EU.
….until 2025 comes along and it will be extended again
90% of clearing done in the UK with little to no change since 2016. I am sure Amsterdam, Frankfurt and Paris are going to clear everything up in 3 years time……
Haha brexiteers having difficulties with accepting they won. Never gets old. Hehe
When this eventually happens and no jobs leave the UK and tax revenues don’t change there’s going to be a lot of people wondering why this was such a big deal.
Almost all clearing in London is done by 1 division of 1 company. The London Clearing House, owned by The London Stock Exchange.
This is about regulators having oversight and a prestige problem for the EU. In practical terms it makes no difference to London or the EU cities that the market might move to.
Is it just a matter of pride? What’s the actual issue with the clearing being done in London anyway? Seems kind of petty to me.
Yeah…we’ll see about that. I’m guessing that come June 2025 there’ll be some reason they come up with to kick the can down the road when it’s obvious that the business still won’t be moving back to the EU and the EU is faced with the prospect of seeing Euro trading and businesses in the shit.