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Europeans Try to Kill MiFID Rule in Brexit Derivatives Fight

  • Exchange-traded derivatives worth 1.3 trillion euros per day
  • Battle pits Deutsche Boerse against its British rival LSE
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The City of London is getting another reminder of how fraught post-Brexit dealings with the European Union could get in the $1.5 trillion-a-day market for exchange-traded derivatives.

Lobbyists for Deutsche Boerse AG, Euronext NV and other exchanges are calling on EU officials to reverse a key part of the bloc’s trading law called open access -- a policy that has wide support in London. The rule allows derivatives to be traded on one exchange and cleared at another.