“In 2021, Euronext confirmed its position as the leading European market infrastructure, thanks to Borsa Italiana joining the Group in April 2021, and benefiting from post-Brexit conditions.”
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As per reports, most online UK brands have lost EU customers, and around 66% of businesses have witnessed additional complications like unexpected taxes and border delays.
The report found that the speed and magnitude of the relocation of European equities trading to Amsterdam have exceeded expectations, by already tripling in volume in the first months of 2021.
Contrary to what many within the trading industry expected, the UK authorities seem to be doubling down on restrictions to the retail investment market in the post-Brexit reality.
In 2020, investment into UK fintech stood at $4.1 billion in 2020, which is more than the next 4 European countries combined.
“The launch of the Brexit Information Hub is aimed at offering guidance to those firms that wish to continue working in Cyprus and to allow UK firms that are currently reviewing their post-Brexit arrangements to gain a better understanding of the regulatory environment in Cyprus and in the EU in general.”
This morning, CySec has issued a very anodyne notice regarding regulation post-Brexit. We look at the absolute hypocrisy of a regulator that allows all its own firms to offer huge bonuses and zero accounts by offering non-compliant 1:2000 leverage via offshore regions, and how it should really be FCA firms lauding the passing of the absurd MiFID passporting system that allowed such bucket shops to associate themselves with British FCA regulations.
“Since they are no longer bound by EU rules, British FX and CFD firms could see the FCA loosen some restrictions and even possibly reintroduce 1:100 leverage for retail clients” says FXOpen’s Natalia Zakharova
FX brokers: Europe needs Britain, it is not the other way round, therefore there is no need to worry about any post-Brexit propaganda from European regulators and commentators. It is all hogwash. You can remain confident that FCA regulation and a London base will still be the way to prosper.
Who would you rather was overseeing the financial sector and its opportunities? A Brussels-based socialist who is a card carrying member of a workers union or the chairman of an IT Support company who runs a development ground for financial technology businesses?
This morning’s viewpoints by financial sector leaders go hand in hand with our analysis that the last thing London’s trading sector needs is any form of deal with Europe. Bungling Boris Johnson may have slipped up, but this particular oversight could be advantageous.
French regulator demonstrates sour grapes and a very unusual view on post-Brexit electronic trading. What are they talking about?
A corporate think tank has told us what is patently clear – that the UK will excel even further in electronic trading and financial services post Brexit.
On January 1, 2021, once the UK’s transition period ends, financial market participants whose activity might be impacted should have fully implemented their preparatory measures.
The temporary permission regime will allow EEA firms to continue providing services and EEA funds to continue to be marketed in the UK once passporting ends.
Whereas the UK regulator has put in place transitional regimes for EEA firms, the situation for UK firms in the EU is not the same, says Nausicaa Delfas, FCA’s Executive Director of International.
By virtue of the withdrawal agreement, EU law will continue to apply to the UK, as if it were a Member State, during the transition period from February 1, 2020 to December 31, 2020.
During the implementation period, due to last until December 31, 2020, EU law will continue to apply.
The move reflects the extension of the expiry date of the Implementing Decision (EU) 2018/2031 of the European Commission on the equivalence of the UK CCP legal framework.