EU regulators consider Mifid electronic trading lock-out

Moves to restrict third-country firms from offering direct electronic access blamed on Brexit

Tough stance on Mifid II rules would bar third-country end-users from accessing exchanges electronically

Regulators in France, Italy and Spain have indicated they will not allow brokers based outside the European Economic Area to offer third-country end-users electronic access to exchanges that reside in their jurisdiction, has learned. Some sources claim the move is motivated by the UK’s decision to leave the European Union.

“There is definitely a political element here, obviously being complicated by the political situation in the UK and Article 50 being triggered,” says one industry so