Today, the Financial Conduct Authority released a statement regarding the application of the UK Share Trading Obligation.
Sean Barwick, AFME’s Associate Director, Equities, commented on the announcement:
“The FCA have provided helpful clarification on the application of the UK Share Trading Obligation by stating that UK firms can continue trading on EU trading venues and systematic internalisers. We welcome the FCA’s objective of minimising disruption to trading at the end of the transition period and remain supportive of open markets and global competition between trading venues to promote efficient trading in financial instruments.
“We maintain that equivalence for trading venues granted by the EU and UK would be the simplest solution to avoid disruption at the end of the transition period caused by overlapping share trading obligations.
“AFME supports the sentiment for further cooperation between the FCA, ESMA and national competent authorities in the EU who are all seeking to address this important issue.”
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Interim Head of Media Relations
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