The Brexit Blog

The Brexit Blog
News and comment on the Brexit process, as Britain leaves the EU.

Wednesday, 22 March 2017

New York Isn't Europe

Bloomberg reports that Xavier Rolet, the head of the LSE, has said that the UK’s decision to leave the European Union could push the clearing of euro-denominated financial products and 100,000 jobs to New York:
The London Stock Exchange Group via the London Clearing House operates a very successful clearing business and is currently licensed to operate in for example, in what I believe could be frankly the only logical alternative to London, if that came to pass, and that is the New York market.

All very well and nice, except that New York isn't Europe!

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