20200131-ITM Trading-Brexit is final. What next?


ITM Trading:
Brexit divorce is final.  What happens next?
-Nothing (rules, regulation….) until 12.31.2020.   They basically extend the deadline until then.
-92% of financial derivative contracts are written through London.
-Until now, financial firms running EU operations from Britain believe that the financial EU regulators would be enough judge UK rules ‘equivalent’ to those governing EU-based firms, granting them market access after December.   Wendy:   In order words, the UK rules are very similar to EU rules so they should be OK when trying to access the EU markets.   Yeah, right!
-Also 12/31/21 – the LIBOR will expire.   Interesting. 

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