Those questions stand to become more abundant as the European authorities mull whether to require<br />that so-called clearing — settling up the money — on trades involving the euro currency take place within the European Union.<br />“Anything involving sales and trading in European currency or to European customers is exposed,”<br />says William Wright, founder of New Financial, a London-based research institution.<br />“The U. K. government’s primary objective was effectively a demonstration of the City of London<br />and the U. K. legal and regulatory and tax system being open for business,” says Richard O’Callaghan, a partner at the law firm Linklaters, who advised the British government on the bond issue.<br />Worldwide, Islamic banks — those run on the principles of Shariah — were stocked with about $1.4 trillion<br />in assets in the first quarter of 2016, according to the Islamic Financial Services Board.<br />Banks are already configuring plans to move significant numbers of people to other financial centers within the European Union, ensuring<br />that trading can continue without a hitch after Brexit is complete.<br />Mr. Macron — a former Rothschild investment banker — is keen to win finance jobs for Paris.<br />Brexit’ Imperils London’s Claim as Banker to the Planet -<br />By PETER S. GOODMANMAY 11, 2017<br />LONDON — From a skyscraper in Canary Wharf, the once-bustling cluster of docks transformed into a global banking<br />center, traders at Citigroup’s regional headquarters move unfathomable sums of money around the planet.
