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The European Securities and Markets Authority (ESMA) announced this Friday that it is working towards ensuring access to Central Counterparty Clearings (CCPs) in the United Kingdom for European financial institutions post-Brexit.
With the Brexit deadline just months around the corner, market participants are increasingly preparing for a so-called “hard Brexit” were a no-deal situation occurs. To avoid market disruption in the case of a no-deal situation, together, with the European Commission, the regulator is planning actions to establish a recognition process of UK CCPs.
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