Brexit - Joint Associations letter sent to HMT on recognition of trading venues under EMIR and MIFIR

On April 5, ISDA sent a letter to HM Treasury, co-signed by UK Finance and the following trade associations and representative bodies: FIA (Futures Industry Association), AFME (Association for Financial Markets in Europe), AIMA (Alternative Investment Management Association), Assosim (Association for Financial Market Intermediaries), EFET (European Federation of Energy Traders), ICI-Global (Investment Company Institute) and SIFMA AMG (Securities Industry and Financial Markets Association Asset Management Group).

The letter requests urgent action by the UK authorities to adopt equivalence decisions regarding EEA trading venues under EMIR UK and MIFID UK, explaining the impact on UK market participants and derivatives markets of a "no deal" scenario. ISDA and a number of national associations have recently written on similar lines to the European authorities requesting the equivalence of UK trading venues. UK Finance similarly contributed to that letter via co-signatory, the European Banking Federation.


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