WORLD
Brussels backs down over London clearing houses in win for the City
WORLD

Brussels backs down over London clearing houses in win for the City

Published: July 9, 2020  |  2 min read, 448 words
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Brussels will allow firms on the Continent to continue using London's vital clearing services after the Brexit transition ends in a victory for the City.European Commission vice-president Valdis Dombrovskis said the bloc will introduce “time limited” provisions from January next year to ensure firms are still able to access the capital's, middlemen which handle trillions of pounds of trades each year and are a crucial part of the global financial system. Brussels did not confirm how long the arrangement will last. It will kick in if the UK and the European Union fail to reach a Brexit... READ MORE
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