BoE welcomes temporary deal on post-Brexit clearing

‘Equivalence’ decision will avoid short-term cliff-edge for CCPs, as Brexit negotiations enter final stages


The Bank of England has welcomed a decision by the European Securities and Markets Authority to grant temporary recognition to UK central counterparties (CCPs).

Esma said in a statement today (September 28) that LME Clear, Ice Clear and LCH would be allowed to continue operating in the European Union after the UK completes its transition away from the EU at the end of this year.

“The Bank of England welcomes [Esma’s] recognition decisions,” the BoE said today. “The decisions give the formal

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