This category contains 27 posts

Brexit update: FIA survey and threats to equivalence

The headline level story around Brexit in the UK is around the vote in the UK Parliament next week on the 15 amendments to the “Brexit Bill” proposed by the House of Lords (see here on Sky News). There have also been some developments on the financial side since our last post (see here). Yesterday, … Continue reading

5 months later, how is MiFID II going?

Yesterday was the 5 month anniversary of the start of MiFID II.  In many ways, things have settled down since then, although there have been some developments over the past weeks (see here for a list of these already covered). While all has been relatively quiet in the world of energy and commodities, there is … Continue reading

Brexit update – Financial discussions and energy “hard Brexit” document

Despite many discussions since our last update (see here), uncertainty around how the world will look after Brexit continues. Energy markets The European Commission’s Directorate General of Energy has recently  issued this document outlining the consequences of a “hard Brexit” in terms of the energy market. It stresses several issues that would occur, for example … Continue reading

Push back on “gold plated” Bank of England rules on algorithmic trading

Several industry associations and banks have pushed back against proposals by the Bank of England to roll out an enhanced version of the rules governing algorithmic trading in financial instruments, as reported here on the Bloomberg web site. The Bank of England released this consultation paper in February, which proposes rules that go over and … Continue reading

Brexit update – ISDA FAQs, ESA warnings and more

There have been a few developments on both the financial  side of regulation in Brexit thinking since our last update (see here). On the financial side, ISDA has issued this FAQ on Brexit. It is a “short” version, with a longer version only being available to members. It covers, contractual, access, and regulatory issues considering … Continue reading

One year to go: Brexit is coming

One year from today, the UK will leave the European Union. In our last post here, we reported that the UK and European  Commission had jointly issued a new version of the draft withdrawal  treaty. This week has seen speeches from both the Bank of England (here) and the Financial Conduct Authority (here). In summary … Continue reading

The Brexit story continues

Yesterday saw many headlines in the story of Brexit, with a “significant step” in finalising a transition agreement announced (for example see here on the Sky new web site, here for the statement from the UK Department for Exiting the EU and here for the announcement from the European Commission). A new version of the … Continue reading

Brexit update – positions forming but details still missing

With the political debate both within the UK and outside raging, there have been a few developments of note to  the energy and commodities markets since our last post here. Most recently, Jeremy Corbyn, leader of the opposition Labour party , made a speech yesterday (see here) stating the party’s Brexit position. Within the speech, … Continue reading

Brexit news: TRs, Internal Energy Market and more

While the political stances of both the UK and the EU are widely reported (for example here on Sky News), practical considerations for market participants becomes ever more important as the exit date approaches. There have been further developments since our last post here. ESMA has been informing  Trade Repositories, as well as others such … Continue reading

Brexit update – and meetings at eWorld

As the date of the UK’s departure gets nearer there still appears to be little solid information on work that must be carried out in the next 14 months. Never the less the news continues following our last post on the topic (see here). The general news talks of the higher level political process, for … Continue reading