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Brokers Warn Over LCH Takeover

Leading brokers have warned that a takeover of LCH.Clearnet by a bourse will hurt competition.

Leading brokers have warned that a takeover of LCH.Clearnet by a bourse will hurt competition, Reuters reports. The Wholesale Markets Brokers’ Association (WMBA) has said that LCH’s acquisition will convert the Anglo-French clearer into a for-profit group.

The group is believed to have been approached by NYSE Euronext and Nasdaq OMX. NYSE Euronext and the LondonStockExchange use LCH.Clearnet for European clearing.

Click here for the story from Reuters.

Click here for additional coverage from The Independent.

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