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.