UK derivative trading venues operate under a regulatory regime equivalent to that in Europe and should be granted prompt EU recognition so they can be accessed by customers in the event of a disorderly Brexit, market participants said.
“In many cases, UK regulated markets provide market users with uniquely deep and liquid markets, and there is no direct substitute,” said the letter from 10 industry groups with members across the world.
The letter last week said many contracts traded on the London Metal Exchange are unique to that exchange, and some products on ICE Futures Europe lack widely-used substitutes on other exchanges.
Derivatives market participants urge EU to recognize UK trading venue equivalency
8 March 2019 9:05am