On February 28, ISDA sent a letter to European Commission vice-president Dombrovskis, co-signed by FIA, the Association for Financial Markets in Europe, the Alternative Investment Management Association, the Association for Financial Market Intermediaries, the European Banking Federation, the European Federation of Energy Traders, the Investment Company Institute, the Investment Association and the asset management group of the Securities Industry and Financial Markets Association.

The letter requests urgent action by European Union authorities to adopt equivalence decisions regarding UK trading venues under the European Market Infrastructure Regulation and Markets in Financial Instruments Directive in the event of the UK leaving the EU without a deal, explaining the impact on EU 27 market participants and European derivatives markets of such a ‘no deal’ scenario.