CEO of London Stock Exchange Group David Schwimmer speaks during an event to launch the private finance agenda for the 2020 United Nations Climate Change Conference (COP26) at Guildhall in London, Britain, February 27, 2020.
Tolga Akmen/Pool via REUTERS//File PhotoThe European Union should allow its banks to continue clearing euro derivatives in London and avoid being "protectionist" in financial markets, London Stock Exchange Chief Executive David Schwimmer said on Tuesday.
Britain's full departure from the EU has largely severed the City of London's ties with the bloc, and EU permission for the London Stock Exchange to keep clearing euro derivatives for EU customers expires in June next year.
"I think it's critically important for the EU to remain open and to resist the protectionist temptation," Schwimmer told a European Financial Services conference.
EU firms should be able to access the same liquidity, services, data and technology capabilities as their peers in respect to clearing, Schwimmer said.
David Schwimmer, Tolga, Britain's, Schwimmer
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