Today FIA, alongside ISDA (International Swaps and Derivatives Association), AFME (Association for Financial Markets in Europe), AIMA (Alternative Investment Management Association), Assosim (Association for Financial Market Intermediaries), EBF (European Banking Federation), EFET (European Federation of Energy Traders), ICI-Global (Investment Company Institute), IA (Investment Association) and SIFMA AMG (Securities Industry and Financial Markets Association Asset Management Group) signed a letter to European Commission Vice President Valdis Dombrovskis regarding the equivalence of UK trading venues.
The letter requests urgent action by the EU authorities to adopt equivalence decisions regarding UK trading venues under EMIR and MIFID in the event of the UK leaving the EU without a deal, explaining the impact on EU27 market participants and European derivatives markets of such a ‘no deal’ scenario.
