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Deutsche Börse hits $10tn in battle for London clearing market

Eurex has built its EU-based alternative to London's LCH amid political tensions over where to process euro derivative trades after Brexit

German Chancellor Angela Merkel speaks at a Deutsche Borse event in Frankfurt in September
German Chancellor Angela Merkel speaks at a Deutsche Borse event in Frankfurt in September Photo: Getty Images

The German stock exchange’s Brexit-inspired attempt to wrestle trillions of dollars of derivatives clearing away from the City of London is gathering steam.

After eleven months of steadily accelerating growth since December 2017, Deutsche Börse’s Eurex Clearing has broken through the $10tn mark on a crucial measure of how much business it is amassing in its battle against LCH, the dominant clearer of interest rate swaps.

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