The German and British supervisory authorities granted transitional arrangement for three exchange-traded derivatives.
In the UK, ICE Futures Europe and the London Metal Exchange successfully lobbied the UK’s Financial Conduct Authority (FCA) for a delay for implementing MiFIR derivative rules until July 2020.
The FCA said: “Having taken into account the risks resulting from the application of the access rights under Article 36 as regards exchange-traded derivatives to the orderly functioning of the trading venues referred to above, as required by MiFIR, the FCA has decided to agree a transitional arrangement for those entities.”
Similarly, in Germany, the Deutsche Boerse owned Eurex Clearing gained a 30-month transitional period from the Federal Financial Supervisory Authority (Bafin) to implement derivative rules.
The German futures exchange must now adhere to the requirements from 3 July 2020 onwards.
It is understood that the French regulator AMF has also allowed a similar reprive to Euronext NV.