Cross-border derivatives contracts worth $35 trillion hangs in Brexit’s balance

ESMA and regulators across the EU are keeping a hawk eye on the mountain of cross border derivative contracts that go beyond Brexit.

According to a top regulator from the European Union, the EU may not have enough time to put in place legislation aimed at avoiding disruption in cross-border derivatives contracts, in case of a cliff hanger moment in Britain’s departure from the bloc.

Steven Maijoor, chairman of the European Securities and Markets Authority (ESMA), stated national regulators across the bloc along with ESMA are keeping a hawk eye on how the derivatives market is readying for a potential “cliff-edge” for March 2019.

Britain’s central bank, the Bank of England, has said, the EU and Britain would need to time legislate in order to ensure “continuity” in the stockpile of cross-border derivatives contracts worth $35 trillion (26 trillion pounds) that go beyond March 2019.

Advertisements


Categories: Creativity, Economy & Finance, Entrepreneurship, Geopolitics, HR & Organization, Regulations & Legal, Strategy

Tags: , , , , , , , , , , , ,

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Google+ photo

You are commenting using your Google+ account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

w

Connecting to %s

%d bloggers like this: