Post-Brexit, Market Data Vendors Predict Uncertain Future
Britain's decision to leave the EU is expected to have little effect on the implementation and application of MiFID 2 on the UK markets. However, it may distract the industry from the fundamental problems that still exist within the text of the regulation. Inside Market Data looks at what impact Brexit may have on market data vendors.
"Firms must continue to abide by their obligations under UK law, including those derived from EU law and continue with implementation plans for legislation that is still to come into effect," the FCA said in a statement.
While MiFID 2 is expected to come into effect on Jan. 3, 2018, the earliest date the UK could actually leave the EU is July 3, 2018, assuming Article 50-the clause of the 2009 Treaty of Lisbon that has to be triggered for the UK to leave the EU-is invoked today, July 4, 2016. A
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