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London clearing chief warns against Brexit complacency

Daniel Maguire says Brexit has handed LCH’s German rival a new marketing strategy

London clearing chief warns against Brexit complacency
Photo: Jack Taylor/Getty Images

The chief executive of the London Stock Exchange’s City clearing house has warned UK lawmakers that Brexit uncertainty still poses a threat to London’s dominance of European derivatives clearing, despite moves by regulators to reassure markets.

Daniel Maguire, the chief executive of LCH, told a House of Lords committee on February 13 that the clearing house has seen “no discernible change” in the way banks, asset managers and pension funds are behaving.

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