Planned EU cross-border trading ban to hit most large markets
Most major jurisdictions currently provide either interdealer or client exemptions
Many major European Union financial market jurisdictions could be affected by draft capital rules banning all forms of cross-border trading with firms based in third-country jurisdictions. At present, foreign dealers can access EU dealers or clients via a series of national exemptions.
“By removing the direct cross-border access and always requiring physical presence, I think many member states will find it contradicts with their national approaches at least in some way,” says an industry
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