Esma acts to give UK-based CCPs EU access if ‘hard Brexit’ occurs

Brexit and the City

The European Securities and Markets Authority is preparing to ensure that European firms still have full access to UK-based central counterparties in the event of a “hard Brexit”, it announced today (November 23).

The move follows the European Commission’s announcement, as part of a wider policy statement, that if the UK left the European Union without a deal, it would work to “adopt a temporary and conditional equivalence decision”, Esma said.

Most of the EU’s centralised clearing takes

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