Thursday

8th Dec 2016

Ticker

New York, not EU, could benefit from Brexit

If firms fled London after Brexit they would go to New York, not Frankfurt or Paris, Xavier Rolet, the London Stock Exchange chief said in an op-ed in British newspaper The Telegraph. Speaking in the run-up to Brexit negotiations, he claimed only Wall Street had the capacity to handle clearing of the 17 major world currencies. "Very little of that [ex-London] business is likely to go to Europe", he said.

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