Esma to recognise three UK clearing houses in no-deal Brexit
EU derivatives traders will gain unbroken access to UK CCPs, even with no withdrawal deal
European regulators have given derivatives traders a key pathway to keep routing trades to clearing houses in London in the event of a no-deal Brexit.
The European Securities and Markets Authority (Esma) says it will immediately give LCH, Ice Clear Europe and LME Clear official formal recognition if no agreement is in place between the European Union and the UK after withdrawal day on March 29.
This will allow the three UK-based central counterparties to provide their services in the EU
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