For the first time, a European securities-clearing network whose biggest banker is Citicorp is on an equal footing with a competing system operated by J.P. Morgan & Co., according to a Wall Street analysts' report.

As a result, Citicorp and other owners may over time generate incremental earnings at the expense of Morgan, according to the report.

Subscribe Now

Access to authoritative analysis and perspective and our data-driven report series.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.