Global Body Calls For UK, EU Access To Derivatives Venues

Law360, London (September 16, 2020, 4:26 PM BST) -- The U.K. and the European Union should allow mutual access to their respective trading venues for swaps after the Brexit transition period ends in order to prevent operational disruption to Europe's €735 trillion ($869 trillion) market, the International Swaps and Derivatives Association has said.

The the global derivatives industry standards setter called on Britain and the EU to recognize so-called equivalence of each other's derivatives trading venues ahead of December. This would allow counterparties based on either side of the Channel to continue on-venue trading of interest rate swaps and credit default swaps when the transition period ends.

The bloc can grant...

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