executive impact

Daiwa considers moving some UK staff to Frankfurt ahead of Brexit

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By Thomas Wilson and Emi Emoto

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iin the end they won't move. London is and has been one of the financial capitals for 1000 years and the business of being the gateway between the world and the euro won't change. plus anyone in finance has to realize if they land their money in the, EU, the negative interest, transaction taxes and regulations will cost far more than dealing with brexit results.

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The city of London, the manner in which clearance houses handle complex currency-denominated instrument/derivative trades, the bespoke regulation, the English legislative structure basically London manages over 70% of all currency denominated clearance.

The Euro is just one of many currencies that London handles. The management of credit risk in the event of a default, the laws are in place to deal with that eventuality. As important is a foundation of confidence that this standard applies globally. There can be no protectionism or exceptions to this rule. Any changes and the Euro status as a global reserve currency would be questioned. The CME Group would mount a legal challenge. There has to be balanced trades no favouritism towards EU institutions. The ECB financial transactions tax is an insight to how finical institutions will react. Market retraction.

All this huffing and puffing from France, Germany, the EU parliament could have severe repercussions on the cost of sovereign debts to all 27 remaining member states. When the red mist clears, it will be too late for blames games.           

CME Group: Futures & Options Trading for Risk Management

https://www.cmegroup.com/

So Seiji Nakata, I would tread carefully, your customers/shareholders won't thank you for failure to understand fully the implications.

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