Christian Voigt, a senior regulatory adviser at Fidessa, and former vice president at Deutsche Boerse has published a blog post warning that there may be up to 230 stocks listed in the UK and EU27 at risk of Brexit because of a Mifid II trading rule. According to Voigt, “The rule requires EU firms to trade all equities on an EU recognised trading venue. Under a no deal Brexit the EU is planning to treat UK venues as non-equivalent, and in fact, has also threatened Switzerland with removing their equivalence too.” It attempts to neutralise the problem by banning EU27 venues from trading Swiss shares, that might secure access to SIX for EU investors. However, there is still a lot of uncertainty, as in the end, a lot will depend on the type of Brexit we endure.
The full article is available on Investment Europe.