London Stock Exchange prepares for a no-deal Brexit
Contingency plans are in place due to ‘the lack of clarity’ a hard Brexit will create and has applied for several trading licences in Amsterdam
Bengaluru — London Stock Exchange Group (LSE) said on Thursday it was activating contingency plans in case Britain crashes out of the EU next March without a transition deal. The LSE said the plans include the incorporation of new entities in the EU, and applications for authorisation within the other 27 countries of the EU for certain businesses. "The complexity and the lack of clarity of the application of a hard Brexit may decrease the effectiveness, or applicability of some of these contingency plans," the bourse operator said in a statement. The LSE also reported a 21% rise in first-half adjusted operating profit to £480m as its clearing, capital markets and information services businesses grew strongly. Adjusted operating profit was forecast at £459m pounds according to a company-supplied consensus from 13 analysts. The LSE also said the effects of a hard Brexit could "adversely affect" its business, results of operations, financial condition and cash flows. The firm told Reut...
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