A BRIDGE TOO FAR FOR CLEARING-HOUSE RIVALS
It was a vintage year for Luxembourg’s clearing house, Cedel. Riding high on the back of the Euromarket boom, net profits rose by 40.5% in 1985, turnover was up by 47% to $762 billion and securities deposited in the system grew by a face value of 50%.
But Cedel is not celebrating. It is deeply worried about the competition it is facing from arch-rival Euroclear, which has a 66% market share.
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