Deutsche Börse has made a fresh attempt to pull euro interest rate swaps businesses from the UK by announcing it will scrap booking fees until the end of the year for customers that want to switch their portfolios to Frankfurt. Investors and companies use interest rate swaps to hedge risk and most euro-denominated business is handled in London, at the London Stock Exchange’s LCH business. Amid political uncertainty in London, in recent weeks EU authorities have reiterated that companies should prepare for a “no deal” Brexit.
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