Hammond warns of risks from moving clearing away from UK

Chancellor Philip Hammond warned on Thursday of potential risks if the European Union moves the clearing of euro-denominated securities like derivatives and bonds to within the euro zone after Brexit."But we should be careful of any proposals which might disrupt growth, raise the cost of investment in Europe and the UK or weaken financial stability."The London Stock Exchange'sLCH clearing house clears most euro-denominated trades, but this activity will be outside the bloc's legal framework afte