Question to the HM Treasury:

To ask Her Majesty’s Government what assessment they have made of whether the presence in the UK of a counterparty clearing house is necessary to the success of the UK as an international financial centre, and whether the presence of such a clearing house is protected by the new settlement for the UK in the EU.

Central Counterparties (CCPs) play a central role in modern financial markets. As the Prime Minster has made clear, the UK’s new settlement with the EU ensures UK firms, including CCPs, will never face any discrimination for being outside the Eurozone.

I refer the noble Lord also to my written answer of 1 April (HL7153).