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.
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