(HITC) The threat to London’s dominant clearing industry intensified after 20 major banks threw their weight behind a new rival service on the continent. The UK’s biggest bank, HSBC, and Spain’s BBVA joined the likes of US giants JP Morgan and Citi and Germany’s Deutsche Bank in a scheme launched by Deutsche Boerse, Germany’s biggest exchange, to share more revenues with its banking customers.
Threat To City As 20 Big Banks Including HSBC Support New Clearing Bid
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