German funds demand clearing relocation, citing cheap costs

The German Investment Funds Association (BVI) demanded the relocation of euro denominated interest rate swaps clearing from London to the EU 27 on Wednesday, citing regulatory concerns due to Brexit and lower costs for fund companies.

  • By Costas Mourselas
  • 22 Nov 2017

The fund advocacy group pointed to a study by Frankfurt-based asset manager Union Investment, which assessed the potential effects of relocating euro clearing to the continent. 

BVI said the shift “would be straightforward”, emphasising that Eurex Clearing, a subsidiary of Deutsche Börse, “already meets all legal and technical ...

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