Although this is largely a symbolic move, it marks a significant increase in the market share of its clearing division.
On Monday, Deutsche Bank’s spokesman confirmed that it has moved a “large part” of its euro clearing activity from London to Frankfurt.
The development comes in the wake of increasing uncertainty as to whether Britain will face a cliff’s edge Brexit or whether it will manage to secure an economic deal with the bloc.
The move is largely symbolic: no jobs have been transferred, as yet. Essentially, the bank is effectively re-routing the the clearance to its clearing division, Eurex.
According to a spokeswoman for Eurex, its market share of the euro clearing is 8% , up by nearly 0 from a year ago.