EU rules targets City of London's derivatives business - reports

clock • 2 min read

New rules from the European Commission to promote financial stability will see the European Union take a share of the City's multi-trillion pound derivatives trading business. The regulations would govern the clearing houses that act as the middle men in derivatives trades. The move is required to alleviate the risk to financial stability in Europe of having so much derivatives trading clearing concentrated in London, according to the European Commission, as reported by The Telegraph. Valdis Dombrovskis, the Commission's executive vice president, said: "We need to reduce our excess...

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