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Rare Brexit Agreements on Finance Help Prevent Market Chaos

  • Regulators on both sides are working to protect clearing
  • EU authorities coordinate national policies on contracts
Bloomberg business news
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With the U.K. deadlocked over Brexit, financial regulators scored a rare accord aimed at preventing chaos in markets should Britain leave the European Union without a deal.

Authorities in the U.K. and the EU redoubled efforts in recent days to ensure trillions of euros in transactions can continue unimpeded. The Bank of England reached an agreement with the European Securities and Markets Authority that will enable derivatives to be handled at clearinghouses run by London Stock Exchange Group Plc, Intercontinental Exchange Inc. and London Metal Exchange.