London Falling: Deutsche Bank Moves Half of its Euro Clearing to Frankfurt

[kreslik.news]

Clearing services, long a staple of the London financial industry, may be moving abroad. At least that’s the suggestion of a report from this Monday’s Financial Times. According to the report, Deutsche Bank has moved almost half of its euro clearing activities to Frankfurt from London.

What drove this behaviour? Why, it’s the never-ending news story that is Brexit. The bank, which is the largest lender in Germany, appears to have moved its euro-clearing operations in order to shield itself from any potential fallout from the UK’s exit from the European Union.

On mainland Europe, regulators and firms have been ... (read more)