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Xavier Rolet: Clearing is the ‘litmus test’ for London’s global crown

As Paris becomes the largest stock exchange in Europe by market capitalisation, Rolet says clearing is still the real prize

Former London Stock Exchange Group boss Xavier Rolet says 'equities have always been a sideshow in Europe'
Former London Stock Exchange Group boss Xavier Rolet says 'equities have always been a sideshow in Europe' Photo: Patrick T. Fallon/Getty Images

The former chief executive of the London Stock Exchange Group Xavier Rolet said London’s ability to hold on to clearing services will dictate whether it remains a global financial centre.

“The litmus test of London’s appeal as a global financial centre will be whether it retains its dominance in the one quadrillion notional interest rate swap clearing market once European clearing equivalency expires,” Rolet told Financial News.

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