Ferber: Mifid should be reviewed with Brexit in mind

European Union legislator takes aim at CCP open-access provision in further threat to UK clearing

Markus Ferber: "When we negotiated Mifid and Mifir, no-one knew the UK was going to leave the EU"

Photo: AG Gymnasium Melle

Incoming European Union market rules should be reviewed with Brexit in mind, according to the European parliamentary rapporteur in charge of the legislation, in a move that could limit the access of UK clearing houses to EU trading venue flows after Brexit.

Speaking at a conference in Paris, hosted by the European Securities and Markets Authority (Esma), German member of the European Parliament Markus Ferber suggested a review of the second Markets in Financial Instruments Directive (Mifid II)