[ M A R K E T R E V I E W | B R E X I T A N D P O S T - T R A D E ] if Brussels attempts to force banks to move all clearing of euro-denominated derivatives from London to the Eurozone . In his speech to the UK Treasury Committee , Bailey highlighted how the consequence of no further equivalence decisions at the end of the 18-month period would mean that a quarter of euro-derivatives clearing would move from the UK to the EU . This 25 % chunk of euro-derivatives clearing is not a “ viable ” amount for the EU to process , Bailey explained to MPs . “ The reason is , particularly in an activity like clearing where the efficiency really comes from having a very big pool of derivatives that can be netted and cleared down , by splitting that pool up the whole process becomes less efficient and having the smaller part of the pool would be even less efficient ,” he said . “ The clearinghouses also involve a
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