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How can the UK's clearing houses survive and thrive after Brexit?

Representatives from the Futures Industry Association (FIA) and The London Clearing House (LCH) to give evidence to Lords EU Committee

On Wednesday 25 October 2017 the House of Lords EU Financial Affairs Sub-Committee will take evidence on the views of the UK's Central Counterparty (CCP) sector regarding Brexit.

At 10.15am the Committee will hear from:

  • Simon Puleston Jones, Head of Europe, Futures Industry Association (FIA)
  • Daniel Maguire, Chief Executive Officer, The London Clearing House (LCH)

Questions the Committee is likely to ask include:

  • How well does the EU's existing regime work for UK CCPs and derivatives traders?
  • What is the scope of existing equivalence provisions as they relate to CCPs? How aligned are the views of CCPs with the rest of the industry?
  • How will the potential for a contractual ‘cliff edge' affect the futures industry if grandfathering is not agreed?
  • How can the UK best continue to pursue an international engagement strategy on derivatives regulation?
  • Does the experience of the US CCP equivalence agreement offer any lessons for the UK as a future third country?
  • What role may EU supervisors play post-Brexit in managing cross-border institutions?

This evidence session is part of the Committee's inquiry into financial regulation and supervision following Brexit. It is examining how financial regulation and supervision can evolve following Brexit in order to ensure financial stability, and potentially to maintain equivalence (or some other form of close relationship between the UK and EU regulatory regimes) in order to preserve market access.

The evidence session will take place at 10.15am on Wednesday 25 October 2017 in Committee Room 4A of the House of Lords.

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