The London Metal Exchange and its clearing entity, LME Clear, will continue their efforts to guarantee clearing services after the United Kingdom leaves the European Union in the process known as Brexit, Fastmarkets heard on Thursday January 3.
This is because of an equivalence decision adopted by the European Commission that will enable the exchange to apply for third-country central counterparty (CCP) recognition by the European Securities & Markets Authority (ESMA).Subject to approval, the move will allow the LME to continue to provide clearing services to its...