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Company News

Frankfurt steps up euro clearing battle with London

LONDON, Nov 3 (Reuters) - Deutsche Boerse said on Tuesday it was expanding incentives for banks to shift clearing of euro-denominated derivatives from London to its Frankfurt clearing unit, the latest salvo in a market battle fuelled by Brexit.

“With the expansion of our central counterparty Switch Incentive Program, we want to make it easier for market participants to comply with the demands of the regulators and transfer swap business into the European Union,” Matthias Graulich, a member of Eurex Clearing’s executive board, said in a statement.

Reporting by Huw Jones; Editing by Edmund Blair

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