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Why LCH’s Maguire isn’t worried about the EU’s push to move clearing to the bloc

Proposed EU rules would affect around 7% of LCH swap volume

Trade bodies have advocated against the change saying it would leave EU firms disadvantaged compared with their international counterparts

Bloomberg via Getty Images

The European Union is planning to bring some euro-denominated clearing back into the bloc but LCH chief executive Daniel Maguire isn't too concerned.

Maguire told Financial News it would have minimal impact on the clearing house. “It’s not huge,” he said.

LCH is one of the largest clearing houses for interest rate derivatives. So far this...