EU has UK, US clearinghouse supervision on track despite Brexit chaos

16 January 2019 7:22pm
While the UK considers what to do about Brexit, EU legislators are set to move ahead on the top priority in financial legislation before Britain’s departure.

Negotiators for the European Parliament and national governments will open final-stage discussions in Strasbourg tomorrow on a bill to revamp the supervision of clearinghouses. The key target is LCH, the London Stock Exchange Group unit that handles most of the derivatives of interest for the region. US-based clearinghouses such as CME Group and Intercontinental Exchange also are among those that would be affected (update*).

*Updated on Jan. 16, 2019 at 20:10 GMT. Adds information about US clearinghouses affected.