September 27, 2021

Volume XI, Number 270

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September 24, 2021

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HM Treasury Intends to Remove UK MiFIR Open Access Regime for ETDs

On May 5, HM Treasury announced its intentions to remove the UK Markets in Financial Instruments Regulation (UK MiFIR) from the open access regime for exchange traded derivatives (ETDs).

HM Treasury states that the open access regime for ETDs is not suitable in a UK-only context, which was originally created to improve cross-border capital markets throughout the European Union. HM Treasury intends to permanently remove the regime when it is possible.

This decision does not affect the United Kingdom’s continued support for the open access regimes in equity and over-the-counter derivatives markets, which will operate as normal.

The HM Treasury announcement.

 

©2021 Katten Muchin Rosenman LLPNational Law Review, Volume XI, Number 127
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About this Author

Carolyn H. Jackson, International Attorney, Katten Muchin law firm
Partner

Carolyn Jackson is a partner in Katten Muchin Rosenman UK LLP and is a Registered Foreign Lawyer. She provides US financial regulatory legal advice to a broad range of market participants, including commercial banks, investment banks, investment managers, broker-dealers, electronic trading platforms, clearinghouses, trade associations and over-the-counter derivatives service providers.

Carolyn guides clients in the structuring and offering of complex securities, commodities and derivatives transactions and in complying with US securities and commodities laws...

+44 0 20 7776 7625
Nathaniel Lalone, Katten Muchin Law Firm, Financial Institutions Attorney
Senior Associate

Nathaniel Lalone, a partner at Katten Muchin Rosenman UK LLP, has a broad range of experience in the regulation of financial products and financial markets, and frequently provides regulatory and compliance advice to trading venues, clearing houses and buy-side firms active in the over-the-counter (OTC) derivatives, futures and securities markets. He is actively involved in advising clients on the implementation of MiFID 2 and MiFIR in the European Union as well as the international reach of US financial services regulation. He also has significant experience with structuring...

+44 0 20 7776 7629
Neil Robson, private equity fund managers counselor, Katten Law Firm, London
Partner

Neil Robson, a regulatory and compliance partner with Katten Muchin Rosenman LLP, focuses his practice on counseling hedge and private equity fund managers and other investment advisers on operational, regulatory and compliance issues. He regularly addresses Financial Conduct Authority (FCA) and EU authorization and compliance under both the EU Alternative Investment Fund Managers Directive (AIFM Directive) and MiFID, cross-border issues in the financial services sector, market abuse, anti-money laundering and regulatory capital requirements, formations and buyouts of...

44-0-20-7776-7666
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