Trading

Why LCH’s Maguire isn’t worried about the EU’s push to move clearing to the bloc

Proposed EU rules would affect around 7% of LCH swap volume

Wednesday 7 June 2023 at 23:01

Trade bodies have advocated against the change saying it would leave EU firms disadvantaged compared with their international counterparts
Trade bodies have advocated against the change saying it would leave EU firms disadvantaged compared with their international counterparts Photo: Bloomberg via Getty Images

The European Union is planning to bring some euro-denominated clearing back into the bloc but LCH chief executive Daniel Maguire isn't too concerned.

Maguire told Financial News it would have minimal impact on the clearing house. “It’s not huge,” he said.