Lobbyists seek eleventh-hour Brexit relief for UK futures

EC urged to extend CCP safe harbour so listed derivatives don’t switch to OTC

Third-country-equivalence-in-doubt
Some industry participants see the decision not to extend temporary equivalence to clearing houses as unusual

Eight industry associations are making a last-ditch bid to protect European users of exchange-traded derivatives from one of the weirder outcomes of a no-deal Brexit, after a European Commission action plan failed to offer them relief.

Warnings that European Union firms would be cut off from UK-based clearing houses prompted the commission in November to offer temporary equivalence if the UK leaves with no deal on March 29 – but the offer was not extended to UK-based exchanges. As a result,

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