Brexit may cause battle over clearing business in swaps: LSE CEO
The European Union could end up in a battle against the US economy if it tries to limit euro-clearing outside the EU following Brexit, warns London Stock Exchange CEO, Xavier Rolet. It took four years of difficult negotiations for US clearinghouses to be seen by their EU counterparts as having equivalent regulations, and any future limitations would be viewed unfavourably. The EU has said in policy papers that regulators "outside its jurisdiction" could make decisions in times of crisis which favour their own economy over that of the EU.

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Clearinghouses a lynchpin in trillions of dollars in commercial transactions