The transitional equivalence period for UK clearing houses in the EU is extended from June 2022 to June 2025. Laetitia Teuber and Vincent Fonteilles from Société Générale explain the difficulties encountered by banks and their clients to switch the activity out of the UK, notably because of the dominant position of LCH...
"London retains a virtual monopoly on interest rate swap clearing"
Laetitia Teuber, Managing Director, Head of Prime Brokerage & Clearing Sales, Continental Europe and Vincent Fonteilles, Director, Head of Prime Brokerage & Clearing Sales, France & Belux, at Société Générale.