ECB's plan to take euro clearing from London stalled by infighting

Frankfurt

DISCORD between the eurozone's three largest countries is stalling the European Central Bank's efforts to come up with a way to force euro clearing out of London and put it under its watch, according to three sources.

Currently UK clearing houses, particularly the London Stock Exchange's LCH.Clearnet, guarantee the vast majority of the trillions of euros worth of trades conducted every year and their location will likely be a point of contention in divorce talks between Britain and the European Union.