Log in
E-mail
Password
Remember
Forgot password ?
Become a member for free
Sign up
Sign up
New member
Sign up for FREE
New customer
Discover our services
Settings
Settings
Dynamic quotes 
OFFON

MarketScreener Homepage  >  Equities  >  London Stock Exchange  >  London Stock Exchange plc    LSE   GB00B0SWJX34

LONDON STOCK EXCHANGE PLC

(LSE)
  Report
SummaryQuotesChartsNewsRatingsCalendarCompanyFinancialsConsensusRevisions 
SummaryMost relevantAll NewsPress ReleasesOfficial PublicationsSector newsMarketScreener StrategiesAnalyst Recommendations

Exclusive: EU to delay euro clearing decision on Brexit divorce threat - source

share with twitter share with LinkedIn share with facebook
09/14/2020 | 10:50pm EDT
FILE PHOTO: Coronavirus disease (COVID-19) outbreak, in London

The European Union is set to delay a decision on allowing clearing houses in London to continue clearing euro transactions for EU-based clients due to Britain's plan to breach part of the Brexit divorce settlement, a derivatives industry source said.

The delay is one of the first warning shots from the EU as UK lawmakers vote later on Monday on a bill that would breach parts of Britain's Withdrawal Agreement from the bloc.

Brussels had said it would grant Britain "time-limited" access to euro derivatives clearing from January to avoid huge disruption to markets as a unit of the London Stock Exchange (LSE) clears over 90% euro-denominated swaps that are widely used by companies.

The European Commission was due to formally take that decision on Wednesday, but is now expected to delay it until around the end of the month, the source said, citing an industry meeting late last week with a European Commission official.

Before the Commission can take a decision it must first hold a five-day consultation with EU states, the source added.

A Commission spokesman said the consultation was launched on Monday to begin the adoption processs, in line with what it announced in July in its Brexit readiness announcement.

The delay was linked to Britain's perceived unpicking of the Withdrawal Agreement it signed with the bloc, the source added.

Britain left the EU in January and transition arrangements that still allow unfettered access to the bloc end on Dec. 31.

Without legal certainty of access to the EU, the LSE's clearing unit LCH must give its clients in the bloc three-months' notice to move billions of euros worth of swaps positions out of Britain.

Euro clearing has long been a battleground between Britain, to keen to preserve London's clout as a global finance hub, and EU policymakers, who believe the bulk of activity should reside in the euro zone under the eye of the European Central Bank.

But moving large swaps positions from LCH to rivals such as Deutsche Boerse's Eurex in Frankfurt in a short time would be costly for banks and unnerve markets.

Brussels had therefore opted to allow more time for this to happen, although it had not said how much time.

If Britain's bill to override parts of its Brexit divorce settlement becomes law it could sour its attempts to have access to other financial activities in the bloc such as trading shares.

By Huw Jones


Stocks mentioned in the article
ChangeLast1st jan.
DEUTSCHE BÖRSE AG -3.41% 141.65 Delayed Quote.4.64%
EURO / BRITISH POUND (EUR/GBP) 0.58% 0.91416 Delayed Quote.7.19%
EURONEXT N.V. -2.02% 97.1 Real-time Quote.37.10%
HONG KONG EXCHANGES AND CLEARING LIMITED -0.05% 367 End-of-day quote.45.06%
LONDON STOCK EXCHANGE PLC -0.57% 8758 Delayed Quote.13.65%
share with twitter share with LinkedIn share with facebook
All news about LONDON STOCK EXCHANGE PLC
10/19FACTBOX : From hungry squirrels to cyberattacks, exchange outages roil markets
RE
10/19FACTBOX-From hungry squirrels to cyberattacks, exchange outages roil markets
RE
10/19Tokyo Stock Exchange plans new protocols after trading halt
RE
10/19Tokyo Stock Exchange to draw up new rules to deal with trading halts
RE
10/15LONDON STOCK EXCHANGE : New York could emerge the winner from Brexit derivatives..
RE
10/15EXCLUSIVE : India will not mandate secondary listings for firms joining overseas..
RE
10/15India will not mandate secondary listings for firms joining overseas markets,..
RE
10/15Kazakh fintech Kaspi's shares soar in London IPO
RE
10/14Barclays picks Le Milon to head M&A in France, Belgium and Luxembourg
RE
10/14LSE to ask shareholders to approve Borsa Italiana sale
RE
More news
Financials
Sales 2020 2 425 M 3 141 M 3 141 M
Net income 2020 536 M 694 M 694 M
Net Debt 2020 1 612 M 2 089 M 2 089 M
P/E ratio 2020 59,7x
Yield 2020 0,85%
Capitalization 30 910 M 40 057 M 40 042 M
EV / Sales 2020 13,4x
EV / Sales 2021 12,1x
Nbr of Employees 4 965
Free-Float 97,9%
Chart LONDON STOCK EXCHANGE PLC
Duration : Period :
London Stock Exchange plc Technical Analysis Chart | MarketScreener
Full-screen chart
Technical analysis trends LONDON STOCK EXCHANGE PLC
Short TermMid-TermLong Term
TrendsBearishBullishBullish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus HOLD
Number of Analysts 16
Average target price 8 910,80 GBX
Last Close Price 8 808,00 GBX
Spread / Highest target 26,8%
Spread / Average Target 1,17%
Spread / Lowest Target -31,9%
EPS Revisions
Managers
NameTitle
David Adam Schwimmer Group Chief Executive Officer & Executive Director
Donald Austin Robert Chairman
David Shalders Chief Operating & Integration Officer
David Porter Warren Group Chief Financial Officer & Executive Director
Anthony McCarthy Chief Information Officer
Sector and Competitors
1st jan.Capitalization (M$)
LONDON STOCK EXCHANGE PLC13.65%40 140
HONG KONG EXCHANGES AND CLEARING LIMITED45.14%59 917
INTERCONTINENTAL EXCHANGE, INC.6.37%55 255
DEUTSCHE BÖRSE AG4.64%31 688
NASDAQ19.03%20 940
B3 S.A. - BRASIL, BOLSA, BALCÃO30.65%20 545