London likely to remain home of £460tn-a-year trade,according to analysis by ratings agency S&POne of the City’s most prized businesses – the way that financial products priced in euros are processed – will not be lost to the remaining members of the European Union as a result of Brexit, according to the ratings agency Standard & destitute’s. The costs associated with moving the clearing of complex financial instruments to another financial centre means London is likely to remain the home of the £460tn-a-year trade, and S&P said.
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Source: theguardian.com