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Last minute open access reprieve for UK and German clearing houses

First Published 3rd January 2018

ICE Futures Europe, London Metal Exchange and Eurex receive MiFID 2 deferral regarding non-discriminatory access provisions to Central Counterparties and Trading Venues

The UK's Financial Conduct Authority (FCA) and the German regulator BaFin have agreed transitional arrangements for ICE Futures Europe, the London Metal Exchange and Eurex, regarding the MiFID 2 requirement that they enable customers to clear contracts on other venues.

With effect from today, 3 January 2018, the companies will not be required to consider open access requests insofar as they relate to exchange-traded derivatives. This can last until the expiry of the transitional period on 3 July 2020.