IntercontinentalExchange head Jeffrey Sprecher claims that open access rules will hinder competition in Europe
Jeffrey Sprecher, chief executive of the
IntercontinentalExchange, has slammed European plans to open up
clearing houses to competition, arguing they will actually
hinder new entrants and help the incumbents.
Speaking at the 2014 IDX Expo in London, Sprecher said: "Open
access is meant to support competition but ICE has started a
clearing house in London and Garry (of the London Metal
Exchange) is starting a clearing house in London."
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