Brexit threatens the City's future in European payment systems

Future UK-EU relations are about to be negotiated in Brussels. While there are signs of improvement in many important policy areas such as citizens' rights, the financial settlement, and the impact of Brexit on the island of Ireland, little progress has been made on the role of the City as the location of Europe's major clearing house, which is represented by the London Clearing House (LCH) and owned by the London Stock Exchange, write Corrado Macchiarelli (Brunel/LSE) and Mara Monti (LSE).