CFTC paves way for no-deal Brexit swaps transfers

Affiliate transfers would not trigger US margin rules if UK crashes out of EU without a deal

Brexit deadline
Interim final rule aims to provide regulatory certainty in the event of no-deal Brexit

Uncleared legacy swaps transferred out of the UK to affiliates elsewhere would be safe from costly US margin requirements in the event of a no-deal Brexit, after the Commodity Futures Trading Commission (CFTC) adopted an interim rule that echoes relief granted by Europe’s supervisory authorities in November.

The catch, however, is that both sets of rules become effective only in the event that the UK crashes out of the European Union without a withdrawal agreement in place, effectively

Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.

To access these options, along with all other subscription benefits, please contact [email protected] or view our subscription options here:

You are currently unable to copy this content. Please contact [email protected] to find out more.

To continue reading...

You need to sign in to use this feature. If you don’t have a account, please register for a trial.

Sign in
You are currently on corporate access.

To use this feature you will need an individual account. If you have one already please sign in.

Sign in.

Alternatively you can request an individual account here: