This paper highlights the issues that must be addressed in the case of a ‘hard’ Brexit. Specifically, it:
- Identifies exiting US Commodity Futures Trading Commission (CFTC) equivalence determinations and no-action relief that is currently provided to the European Union (EU) and should be extended to entities registered with the CFTC in order to preserve continuity and market stability once the UK exits the EU.
- Analyzes the impact of a hard Brexit on US market participants, and where appropriate, proposes regulatory and contractual solutions to minimize any negative impacts a hard Brexit would have on US market participants.
We note that Brexit discussions are ongoing and, based on developments, the regulatory and contractual approaches may change.
Click on the attached PDF to read the full document.
Documents (1) for Hard Brexit: An Impact Assessment for US Entities Registered with the CFTC
Latest
US Treasury Repo Clearing Indicators June 2026
The ISDA-Actrix US Treasury Repo Market Clearing Indicators illustrate central clearing adoption in the US Treasury repo market. Sponsored cleared repo volumes are used as a proxy to monitor client participation in central clearing, a key objective of the Securities...
An Important Step Towards Efficient Reporting
Of all the problems that have hindered effective trade reporting in the derivatives market, one of the most difficult to resolve has been duplication. In the EU, both parties to a trade are mandated to submit the same information, while...
The ISDA Notices Hub: One Year On
In times of war, armed forces are often required to mobilize over large distances at short notice. The most dreaded response to the question of how they are to be transported is ‘by LPC’, meaning ‘leather personnel carrier’ – the...
ISDA Response to OSC Call for Feedback
On June 26, ISDA responded to the Ontario Securities Commission’s (OSC) consultation on facilitating access to its regulatory framework and reducing the burden for capital markets participants by publishing a machine-readable dataset of regulatory instruments. ISDA's comments are supportive of...