July 30, 2018 / 7:18 AM / 3 months ago

Deutsche Bank shifts large part of euro clearing to Frankfurt from London

FRANKFURT, July 30 (Reuters) - Deutsche Bank has moved a “large part” of its euro clearing activity to Frankfurt from London, a spokesman confirmed on Monday.

The shift by Germany’s largest bank is a boost to Deutsche Boerse’s ambitions to steal a large part of the euro clearing market from London as Britain exits the European Union.

The Financial Times was first to report the shift in clearing.

Reporting by Tom Sims Editing by Edward Taylor

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