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4 Min Read LONDON (Reuters) - Britain is set to allow banks to continue trading derivatives in the European Union after a review this month, given that pulling down the shutters would not bring back the trillions of euros in business lost since Brexit. Britain’s trade deal with the EU since January does not cover financial services, leaving the City of London largely cut off from the bloc, which had banned EU customers from using UK platforms for trading swaps. Hours before Britain’s full departure from the EU on Dec. 31, the Financial Conduct Authority announced that despite the EU refusing to budge on its curbs, it would allow banks in London, including subsidiaries of EU lenders, to trade euro swaps on platforms in the bloc to avoid a rupture with EU customers. ....
Britain set to keep door open for EU derivatives customers reuters.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from reuters.com Daily Mail and Mail on Sunday newspapers.
Britain set to keep door open for EU derivatives customers leaderpost.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from leaderpost.com Daily Mail and Mail on Sunday newspapers.