ESMA: Impact of Brexit on MiFID II/MiFIR and the Benchmark Regulation

ESMA has published a statement on its approach to the application of some key MiFID II/MiFIR and Benchmark Regulation provisions in the event of a no-deal Brexit. These are: the MiFID II C(6) carve-out; trading obligation for derivatives; ESMA opinions on post-trade transparency and position limits; post-trade transparency for OTC transactions between EU investment firms and UK counterparties and ESMA’s register of administrators and third country benchmarks.