webfact Posted July 30, 2018 Share Posted July 30, 2018 Deutsche Bank shifts large part of euro clearing to Frankfurt from London FILE PHOTO: The headquarters of Deutsche Bank is pictured in Frankfurt, Germany, March 19, 2018. REUTERS/Ralph Orlowski/File Photo FRANKFURT (Reuters) - Deutsche Bank <DBKGn.DE> 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 boon to Deutsche Boerse's <DB1Gn.DE> goal of stealing 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. The move is largely symbolic, with no jobs transfers as a result. A Deutsche Bank spokesman said that the bank is effectively pushing a different button to route the clearing to Eurex, Deutsche Boerse's clearing division. A spokeswoman for Eurex said that it now has a market share of 8 percent of euro clearing, up from virtually zero a year ago. (Reporting by Tom Sims; Editing by Edward Taylor and Louise Heavens) -- © Copyright Reuters 2018-07-30 Link to comment Share on other sites More sharing options...
Chomper Higgot Posted July 30, 2018 Share Posted July 30, 2018 Oops! 2 Link to comment Share on other sites More sharing options...
Popular Post anon7867763 Posted July 30, 2018 Popular Post Share Posted July 30, 2018 Brexodus ! 1 1 1 Link to comment Share on other sites More sharing options...
Grouse Posted July 30, 2018 Share Posted July 30, 2018 ? 1 Link to comment Share on other sites More sharing options...
sammieuk1 Posted July 30, 2018 Share Posted July 30, 2018 Don't panic Boris has it all under control? 1 1 1 Link to comment Share on other sites More sharing options...
Popular Post ivor bigun Posted July 30, 2018 Popular Post Share Posted July 30, 2018 If you read the article you find that the move is only symbolic.no jobs will be lost most of it is already done electronically already.Its just a German bank that went bust symbolically moving back to Germany.We were told in the beginning if we voted for Brexit thousands of jobs would go immediatly.they didnt ,move on nothing to see hereSent from my SM-A720F using Thailand Forum - Thaivisa mobile app 5 1 Link to comment Share on other sites More sharing options...
ivor bigun Posted July 30, 2018 Share Posted July 30, 2018 Oops!Quite right oops project fear still not workingSent from my SM-A720F using Thailand Forum - Thaivisa mobile app 2 Link to comment Share on other sites More sharing options...
Popular Post Chomper Higgot Posted July 30, 2018 Popular Post Share Posted July 30, 2018 4 minutes ago, ivor bigun said: Quite right oops project fear still not working Sent from my SM-A720F using Thailand Forum - Thaivisa mobile app Not working.... as it turns into reality. 3 Link to comment Share on other sites More sharing options...
ivor bigun Posted July 30, 2018 Share Posted July 30, 2018 Not working.... as it turns into reality.Dream on.because thats all you can do .chomp at the bitSent from my SM-A720F using Thailand Forum - Thaivisa mobile app 1 1 Link to comment Share on other sites More sharing options...
Popular Post Andrew65 Posted July 31, 2018 Popular Post Share Posted July 31, 2018 Is this the same Deutsche Bank that's been flirting with collapse? One so big it would probably be the next Lehman Brothers-moment??!!? 4 1 Link to comment Share on other sites More sharing options...
bristolboy Posted July 31, 2018 Share Posted July 31, 2018 40 minutes ago, Andrew65 said: Is this the same Deutsche Bank that's been flirting with collapse? One so big it would probably be the next Lehman Brothers-moment??!!? And your point is? 1 Link to comment Share on other sites More sharing options...
Popular Post Chomper Higgot Posted July 31, 2018 Popular Post Share Posted July 31, 2018 This is reminiscent of when the British thought nobody could takeover British shipbuilding, car manufacturing, steel production...... 5 Link to comment Share on other sites More sharing options...
BuaBS Posted July 31, 2018 Share Posted July 31, 2018 47 minutes ago, Andrew65 said: Is this the same Deutsche Bank that's been flirting with collapse? One so big it would probably be the next Lehman Brothers-moment??!!? Yes same bank , but the germans won't let it collapse , but they should. 1 1 1 Link to comment Share on other sites More sharing options...
Andrew65 Posted July 31, 2018 Share Posted July 31, 2018 4 minutes ago, Chomper Higgot said: This is reminiscent of when the British thought nobody could takeover British shipbuilding, car manufacturing, steel production...... 20-20 hindsight!? Lots have financial-services have been done in Tokyo, Singapore, HK for very many years now, and it isn't just British business that's moved there. Also, it isn't just British industry that's been offshored, this is what Trump's on about vis-a-vis America. 1 Link to comment Share on other sites More sharing options...
Popular Post Andrew65 Posted July 31, 2018 Popular Post Share Posted July 31, 2018 10 minutes ago, BuaBS said: Yes same bank , but the germans won't let it collapse , but they should. They handle 10's of trillions in derivatives etc, a collapse would affect the EU & the whole World. Another thing, the Germans seem very reluctant to let Italy help it's failing banks, a big bone of contention. Maybe just wishful thinking, but at some time in the future Brexit (and not having adopted the Euro or Schengen) might be seen as a prescient move. There is lots of Euro-scepticism within the EU, not just in the UK. 3 Link to comment Share on other sites More sharing options...
Popular Post Jonnapat Posted July 31, 2018 Popular Post Share Posted July 31, 2018 12 hours ago, Chomper Higgot said: Not working.... as it turns into reality. Yes, and remember Brexit has not yet even begun. Much worse to follow, for sure 3 1 Link to comment Share on other sites More sharing options...
bert bloggs Posted July 31, 2018 Share Posted July 31, 2018 (edited) 1 hour ago, Jonnapat said: Yes, and remember Brexit has not yet even begun. Much worse to follow, for sure Worse than what ? this non story , as ivor said to chomper dream on . Edited July 31, 2018 by bert bloggs Link to comment Share on other sites More sharing options...
nabbie Posted July 31, 2018 Share Posted July 31, 2018 12 hours ago, Chomper Higgot said: Not working.... as it turns into reality. leading to the disaster. 1 Link to comment Share on other sites More sharing options...
mlmcleod Posted July 31, 2018 Share Posted July 31, 2018 (edited) Just the tiniest beginning of the effect of Brexit on the economy! Next March we will all see the real results! Edited August 3, 2018 by metisdead Bold font removed again. Please stop using bold font when posting. Link to comment Share on other sites More sharing options...
Popular Post ivor bigun Posted July 31, 2018 Popular Post Share Posted July 31, 2018 On 7/31/2018 at 10:36 AM, mlmcleod said: Just the tiniest beginning of the effect of Brexit on the economy! Next March we will all see the real results! Yes when things start to improve for our country Sent from my SM-A720F using Thailand Forum - Thaivisa mobile app 1 2 Link to comment Share on other sites More sharing options...
Popular Post Baerboxer Posted July 31, 2018 Popular Post Share Posted July 31, 2018 2 hours ago, BuaBS said: Yes same bank , but the germans won't let it collapse , but they should. And the German government will quite happily disregard EU law and rules on bail outs if it has to. 5 Link to comment Share on other sites More sharing options...
stevenl Posted July 31, 2018 Share Posted July 31, 2018 16 minutes ago, Baerboxer said: And the German government will quite happily disregard EU law and rules on bail outs if it has to. Are they doing that already then, or is this just your feelings for the Germans, having surpassed the UK? 2 Link to comment Share on other sites More sharing options...
Jane Dough Posted July 31, 2018 Share Posted July 31, 2018 15 hours ago, ivor bigun said: Quite right oops project fear still not working Sent from my SM-A720F using Thailand Forum - Thaivisa mobile app The same could be said for project smokescreen. Link to comment Share on other sites More sharing options...
puck2 Posted July 31, 2018 Share Posted July 31, 2018 4 hours ago, BuaBS said: Yes same bank , but the germans won't let it collapse , but they should. You are completely right. Because the Germans wouldn't like that Trump would get rid of his Deutsche Bank debts. 1 Link to comment Share on other sites More sharing options...
Popular Post simple1 Posted July 31, 2018 Popular Post Share Posted July 31, 2018 (edited) 22 hours ago, Chomper Higgot said: Oops! Correct, an indicator for the future even though in this particular instance no immediate job losses. Some are not observing trends... The U.K.’s share of the jobs created by the financial services industry in Europe shrank to 16 percent last year, its lowest level in a decade, according to EY. Back in 2016, the figure stood at 37 percent. https://www.bloomberg.com/view/articles/2018-07-10/london-s-post-brexit-decline Edited July 31, 2018 by simple1 3 Link to comment Share on other sites More sharing options...
ivor bigun Posted July 31, 2018 Share Posted July 31, 2018 Correct, an indicator for the future even though in this particular instance no immediate job losses. Some are not observing trends... The U.K.’s share of the jobs created by the financial services industry in Europe shrank to 16 percent last year, its lowest level in a decade, according to EY. Back in 2016, the figure stood at 37 percent. https://www.bloomberg.com/view/articles/2018-07-10/london-s-post-brexit-declineWriten by Mark Gilbert an OPINION ANALYST for Bloomberg.they even put out a disclaimer to say his opinions are not theirs at the end of the piece. Sent from my SM-A720F using Thailand Forum - Thaivisa mobile app Link to comment Share on other sites More sharing options...
Popular Post tomacht8 Posted July 31, 2018 Popular Post Share Posted July 31, 2018 (edited) Brexit drives Asian banks to Frankfurt From Desirée Backhaus 27/7/18 Banking & Adviser After the Japanese, the Chinese are now coming: With the CICC, the first Chinese investment bank wants to manage its European business from Frankfurt. Is there more to it than the Brexit? The five major Chinese state-owned banks already have offices in Frankfurt, followed by the first Chinese investment bank: The China International Capital Corporation (CICC) has chosen the Main metropolis as its headquarters for continental Europe because of Brexit, said a few days ago, the lobby organization Frankfurt Main Finance. Shortly before, the equally Chinese bank Essence Securities had already decided for Frankfurt as a European hub. As early as last year, four of the five major Japanese investment banks had announced that they would move their EU headquarters from London to Frankfurt because of Brexit. The first new employees have now started work. As the UK wants to leave the European single market, banks will no longer be able to fully operate their financial operations on the continent with a British license. Edited July 31, 2018 by tomacht8 2 2 Link to comment Share on other sites More sharing options...
Popular Post stevenl Posted July 31, 2018 Popular Post Share Posted July 31, 2018 1 hour ago, ivor bigun said: Writen by Mark Gilbert an OPINION ANALYST for Bloomberg.they even put out a disclaimer to say his opinions are not theirs at the end of the piece. Sent from my SM-A720F using Thailand Forum - Thaivisa mobile app Yes, his opinions are just that, opinions. But the facts are: " The U.K.’s share of the jobs created by the financial services industry in Europe shrank to 16 percent last year, its lowest level in a decade, according to EY. Back in 2016, the figure stood at 37 percent. ". 4 Link to comment Share on other sites More sharing options...
dunroaming Posted July 31, 2018 Share Posted July 31, 2018 19 hours ago, ivor bigun said: If you read the article you find that the move is only symbolic.no jobs will be lost most of it is already done electronically already. Its just a German bank that went bust symbolically moving back to Germany. We were told in the beginning if we voted for Brexit thousands of jobs would go immediatly.they didnt ,move on nothing to see here Sent from my SM-A720F using Thailand Forum - Thaivisa mobile app Immediately being the moment Brexit is completed. That hasn't happened yet. Link to comment Share on other sites More sharing options...
observer90210 Posted July 31, 2018 Share Posted July 31, 2018 Good, if no jobs are transfered.....as the trafic in Frankfurter is much more accessible, non congested then in exciting and lively Londonia ! (no offence please to my pals from England ) Link to comment Share on other sites More sharing options...
Recommended Posts
Create an account or sign in to comment
You need to be a member in order to leave a comment
Create an account
Sign up for a new account in our community. It's easy!
Register a new accountSign in
Already have an account? Sign in here.
Sign In Now