The European Commission has proposed the EU should be able to force important clearing houses to be based in its territory.
The new rules, if adopted, could affect clearing houses in London after the United Kingdom leaves the EU. Ultimately, some London-based clearing houses could be forced to set up shop in the EU.
Clearing houses, also known as central counterparties (CCPs), became more important after the 2008 financial crisis. They act as an intermediary between traders of fin...
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