EU seeks to offer reassurance on Brexit clearing exemption

Commission can act quickly to stave off no-deal market disruption, insists official

UK and Europe flags

A senior European Commission official has sought to reassure European Union derivatives market participants they will not be locked out of UK clearing houses in the event of a no-deal Brexit, but market participants worry any relief may be short-lived.

In late 2018, the EC agreed to grant UK central counterparties (CCPs) a temporary exemption to the strict framework by which the bloc recognises third-country CCPs, to avoid locking out clearing members from the EU27 if no-deal occurred on March

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