EU Derivatives Traders Told To Stay Inside Bloc After Brexit

Law360, London (November 25, 2020, 3:25 PM GMT) -- The European markets regulator said on Wednesday that derivatives traders in Britain will have to clear their swaps within the European Union after the Brexit transition period ends on Dec. 31.

The European Securities and Markets Authority said it has reached a final decision to make no changes to the application of the bloc's derivative trading rules after the transition ends, meaning U.K. finance companies will have to clear their trades on EU venues.

The decision means that British operators will be treated like any other "third country" without an equivalence decision that would allow it to trade within the bloc....

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