Off The Wire
U.S. derivatives regulator: 'Brexit' uncertainty poses 'substantial' market impact
WASHINGTON (Reuters) - The U.S. derivatives regulator warned Thursday uncertainty over Britain’s exit from the European Union is having a ‘substantial’ impact on some U.S. entities and markets.
The Commodity Futures Trading Commission warned the ongoing uncertainty about a Brexit outcome could create instability in the global derivatives market. In a statement, CFTC Chairman Christopher Giancarlo urged the EU and Britain to settle terms “in a manner that provides sufficient legal and regulatory certainty” to markets.
Britain has agreed a deal to leave the EU, but political analysts expect the deal to be voted down by the British parliament when put to a vote next week. Concerns over a no-deal Brexit have already hammered the pound and could cause dislocation in global markets, say analysts.
Reporting by Michelle Price; Editing by Chizu Nomiyama