frankfurt stock market squares off against london
Last Updated : GMT 06:49:16
Arab Today, arab today
Arab Today, arab today
Last Updated : GMT 06:49:16
Arab Today, arab today

Frankfurt stock market squares off against London

Arab Today, arab today

Arab Today, arab today Frankfurt stock market squares off against London

Frankfurt is fighting for post-Brexit financial services.
Frankfurt am Main - Arab Today

German stock market operator Deutsche Boerse said Monday it would launch an "EU-based alternative" for some key financial transactions as it bids to snatch business from London after Brexit.

Its subsidiary Eurex has partnered with big international banks including Bank of America Merrill Lynch, Deutsche Bank and JP Morgan, hoping to attract more work in "clearing" -- or guaranteeing complex financial deals will be completed.

Monday's announcement relates to "interest rate swaps", which firms use to hedge against or bet on changes in interest rates.

Clearing is one of the major battle lines being drawn between London and European financial centres as Britain prepares to leave the European Union.

Brussels unveiled plans in May to deny London the right to host clearing transactions denominated in euros -- potentially costing the British capital trillions in financial flows per year.

And once Britain leaves in March 2019, UK-based banks face losing "passporting" rules that allow them to sell services across the 28-member bloc unhindered.

Capitals including Paris, Amsterdam and Dublin have flung resources into coaxing banks to prepare for Brexit by setting up shop on their territory.

But Germany's sober financial hub Frankfurt has so far outshone its glitzier cousins.

Around 10,000 new banking jobs are expected to spring up in the city on the Main river, according to a study commissioned by lobby group Frankfurt Main Finance.

Major US and Asian banks have already committed to Frankfurt.

Britain's Sunday Times newspaper reported this week that Goldman Sachs and four other banks were spending tens of thousands of euros booking places in the western German city's English-speaking international schools -- a full year before any of their employees have moved.

Goldman Sachs also said last week that it had leased space for around 1,000 workers in the Marienturm, an under-construction Frankfurt skyscraper.

Source: AFP

arabstoday
arabstoday

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

frankfurt stock market squares off against london frankfurt stock market squares off against london

 



Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

frankfurt stock market squares off against london frankfurt stock market squares off against london

 



GMT 10:10 2017 Thursday ,09 February

3 Important Elements You Have to Consider

GMT 04:03 2017 Monday ,24 April

Bella Hadid ‘dying’ to visit Palestine

GMT 19:25 2016 Wednesday ,25 May

The Brooklyn Desk by Oeuf NYC

GMT 07:49 2018 Friday ,05 January

2 Russian servicemen killed

GMT 07:58 2018 Monday ,01 January

Italy orders N. Korea's envoy to leave

GMT 08:45 2017 Wednesday ,20 December

US military imagines war without GPS

GMT 17:26 2017 Sunday ,17 December

Putin thanks Trump for help in foiling attack plot

GMT 22:19 2017 Monday ,16 October

Cairo-hosted Fatwa conf. new contribution

GMT 02:27 2016 Friday ,10 June

Video hints Japan abetting illegal ivory trade

GMT 07:04 2017 Wednesday ,19 April

1,883 Bahrainis found jobs in March

GMT 14:24 2016 Tuesday ,22 November

Citi and JPMorgan top list of ‘globally banks’

GMT 21:43 2017 Friday ,01 September

People question Nazaruddin`s repatriation expenses

GMT 09:41 2017 Wednesday ,19 April

OIC concerned over violence in Mali

GMT 01:30 2017 Friday ,27 October

May22/Jun21

GMT 05:38 2016 Friday ,30 December

Dubai Airports divert 13 flights due to heavy fog

GMT 11:38 2017 Saturday ,14 January

Mexico names new ambassador to US

GMT 12:03 2017 Wednesday ,22 March

Kuwait to mark World Water Day

GMT 15:00 2017 Wednesday ,27 September

HM King receives invitation from Egyptian President

GMT 02:45 2017 Tuesday ,05 December

President Bashir arrives in Chad

GMT 02:45 2017 Wednesday ,16 August

Turkmen President Visits Pakistan
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube

Maintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2021 ©

Maintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2021 ©

arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday