Deutsche Borse Plugs Frankfurt Clearing Ahead Of LSE Merger
Posted: Thu Jul 07, 2016 10:53 am
Deutsche Borse chief executive officer, Carsten Kengeter, is planning to pitch the takeover of London Stock Exchange Group (LSE) as Frankfurt’s sole chance of winning a key euro-denominated business, according to sources quoted in Bloomberg today.
Kengeter’s renewed attempts to win over German officials and investors comes amid post-Brexit conflicting opinions between European leaders regarding which city should become the new centre for clearing euro-denominated trades.
Most euro clearing currently occurs in London, but the UK’s departure from the EU has put that business up for the taking with cities including Paris battling to win it.
German officials are against Deutsche Borse ... (read more)