Covid-19 – European Commission delays key MiFID Derivatives rule by one year

The coronavirus pandemic has forced a one-year delay to opening up Europe’s $1.5 trillion-per-day market for exchange-traded derivatives.

The decision is a victory for Germany and Deutsche Boerse AG, the country’s dominant exchange and clearinghouse, which have long opposed the policy.

European Union lawmakers are postponing a signature part of their MiFID II securities overhaul, citing “adverse circumstances” from Covid-19, according to a statement from the council of EU national governments late Tuesday.

The last-minute legislative manoeuvre means the “open access” will now begin July 4, 2021 instead of next month

https://www.consilium.europa.eu/en/press/press-releases/2020/06/23/clearing-houses-presidency-and-parliament-reach-political-agreement-on-recovery-and-resolution/

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