Editorial: Let’s be clear

Author: | Published: 21 Sep 2017

Rarely has an activity as technical as clearing been the subject of so much passionate debate and discussion. And with Brexit negotiations going nowhere fast, we could be hearing about it for a while longer.

On the one hand are those who believe that avoiding fragmentation is essential – in theory, nothing prevents an EU clearing house from choosing to clear in London. It's ultimately a question of bulk and critical mass, according to one market participant. London clears tens of different currencies, including the euro,...