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EU watchdog proposes derivatives changes in case of no-deal Brexit

November 8, 2018 4:22 PM
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LONDON (Reuters) - The European Union’s markets watchdog has proposed temporary exemptions from EU rules to ensure that uncleared derivatives contracts are not disrupted if there is a no-deal Brexit.

The changes would mean that banks have a year to shift their derivatives positions from London to the EU if Britain crashed out of the bloc next March, the European Securities and Markets Authority said.

Also read: Germany's Weber says draft Brexit deal will not be renegotiated

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