Icma Warns on Euro Clearing Relocation

Trade body says any forced move could increase risks and costs for derivatives users

Brexit
The proposals were widely seen as one of the first exchanges in a looming battle over Brexit.

The International Capital Market Association (Icma) included access to market infrastructure as one of several risks attached to the UK’s departure from the European Union (EU), in its quarterly report released on July 12.

“Mandatory relocation would involve costs and risks for users of capital markets,” said Icma in its report, going on to state that “relocation will cause market disruption, particularly if relocation is not properly organised over a sufficient period of time.”

The European C