London Financial Jewel Brightens Even as Brexit Reckoning Looms
- LSE’s CEO says clearing business hasn’t been ‘frittering away’
- France and Germany put a bullseye on LCH’s clearinghouse
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One of London’s crown financial jewels -- a business sought after by the rest of Europe -- is shining brighter than ever before.
The U.K. capital’s LCH clearinghouse is the world’s biggest for interest-rate swaps, a market where trading has marched steadily higher in every survey since 1995. Last year, LCH’s swap clearing business enjoyed a 25 percent jump in volume to $666 trillion. And the regulatory incentives giving those operations a tailwind are just getting stronger.