EU Watchdogs To Ease Post-Brexit Derivatives Trading Rules

Law360, London (November 24, 2020, 4:21 PM GMT) -- The European Supervisory Authorities published proposals Monday that will allow U.K. counterparties to a derivatives transaction to be replaced with others based in the European Union without triggering margin and clearing requirements after the end of the Brexit transition period.

The measures, designed to ensure that existing derivatives contracts can continue after Dec. 31, would save counterparties from paying out for expensive clearing obligations.

Transactions between EU companies are exempt from costly clearing rules under the European Market Infrastructure Regulation, the EU's rule book for derivatives trading. But derivatives trades that cross out of the bloc must be cleared by central...

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