Julian Jessop quoted in the Daily Express
EU rules forbid EU-based firms to trade interest rate swaps and credit default swaps with nations outside the bloc or with nations whose standards have been not recognised by Brussels. The EU have failed to grant the UK with EU equivalence- restricting trade.
Julian Jessop argued: “Euro-denominated equity trading, and equity trading more generally, is pretty small in size compared to other markets” adding that the EU was “shooting itself in the foot” for “small short term gain”.
Read the full article here.