On 5 April, FIA co-signed a letter to HM Treasury and FCA regarding the equivalence of EEA trading venues. Signing the letter alongside FIA were ISDA (International Swaps and Derivatives 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), SIFMA AMG (Securities Industry and Financial Markets Association Asset Management Group) and UK Finance
The letter requests urgent action by the U.K. authorities to adopt equivalence determinations regarding EEA trading venues under EMIR and MIFIR as they apply in the UK in a ‘no-deal’ Brexit, explaining the impact on U.K. market participants and derivatives markets in the absence of equivalence determinations in such a "no deal" Brexit scenario.
A number of trade associations have recently written to the European authorities requesting the equivalence of U.K. trading venues.
