UK clearing houses approved to continue EU business under no deal Brexit

FILE PHOTO: People walk through the Canary Wharf financial district of London, Britain, December 7, 2018. REUTERS/Simon Dawson/File Photo - Copyright Simon Dawson(Reuters)

By Reuters

Published on 18/02/2019 - 9:34 GMT+1

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LONDON (Reuters) - Europe's financial markets regulator has granted approval to UK-based derivatives clearing houses to continue serving EU clients if there's a no-deal Brexit, a major boost to London's battle to remain the central market for euro clearing.

The European Securities and Markets Authority said the decision to allow LCH Limited, ICE Clear Europe and LME Clear to continue operating was to limit disruption and avoid potentially negative impacts on financial market stability.

(Reporting by Simon Jessop; Editing by Rachel Armstrong)

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