Trade Groups Call For Brexit Certainty In Derivatives Market

Law360, London (September 1, 2020, 5:08 PM BST) -- Financial trade groups have called on European authorities to provide clarity for derivatives traders before the Brexit transition period ends by allowing them to swap U.K. counterparties for those based in the bloc until the end of 2021 if Britain leaves without a deal.

The International Swaps and Derivatives Association and the Association for Financial Markets in Europe said on Friday that regulatory standards, which will allow European investors to swap U.K. counterparties in existing derivatives contracts with others based in the bloc, should apply until the end of December 2021.

The European Securities and Markets Authority decided to allow traders...

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