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Tory Brexit DOOM™: Bloodbath in the City

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    #11
    Originally posted by DimPrawn View Post
    Fine by me, we will insist by law all Sterling clearing and related instruments are cleared in London. Common sense 'innit?
    Easy. Sterling clearing doesn't happen much anywhere else.

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      #12
      Originally posted by AtW View Post
      ECB bids for control over Euro clearing in threat to the City
      Nobody should to have any trouble with this. Those involved in USD clearing in the City are directly regulated by the USA, so why shouldn't LCH and others involved in euro clearing be directly regulated by the ECB? I believe they are already directly regulated by China for clearing Reminbi.

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        #13
        Originally posted by m0n1k3r View Post
        Nobody should to have any trouble with this. Those involved in USD clearing in the City are directly regulated by the USA, so why shouldn't LCH and others involved in euro clearing be directly regulated by the ECB? I believe they are already directly regulated by China for clearing Reminbi.
        Because UK is leaving EU, do you think if Hong Kong left China now it would get to clear bulk of Reminbi?

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          #14
          Originally posted by AtW View Post
          Because UK is leaving EU, do you think if Hong Kong left China now it would get to clear bulk of Reminbi?
          If China would amend its constitution so that it would be possible for a part of China to leave it lawfully, then yes.

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            #15
            Originally posted by m0n1k3r View Post
            If China would amend its constitution so that it would be possible for a part of China to leave it lawfully, then yes.


            Correct answer is NO, because no country or club would want to encourage members leaving it.

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              #16
              Originally posted by m0n1k3r View Post
              ... so why shouldn't LCH and others involved in euro clearing be directly regulated by the ECB?
              Duh. Because we've taken back control, innit? So no way are we going to be subject to regulation by some unelected bunch of Euro technocrats.

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